Dearborn Partners LLC Sells 103 Shares of The Hershey Company (NYSE:HSY)

Dearborn Partners LLC lowered its stake in The Hershey Company (NYSE:HSY) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,949 shares of the company’s stock after selling 103 shares during the period. Dearborn Partners LLC’s holdings in Hershey were worth $6,702,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. boosted its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in Hershey by 3.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock valued at $308,000 after purchasing an additional 59 shares during the last quarter. Brighton Jones LLC boosted its position in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 3.1 %

NYSE HSY opened at $178.77 on Friday. The business has a fifty day moving average price of $188.28 and a two-hundred day moving average price of $192.05. The stock has a market capitalization of $36.16 billion, a PE ratio of 20.60, a PEG ratio of 4.42 and a beta of 0.38. The Hershey Company has a fifty-two week low of $171.67 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HSY. Royal Bank of Canada reduced their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Barclays lowered their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Finally, Jefferies Financial Group decreased their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.33.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.