The Hershey Company (NYSE:HSY) Stake Lifted by MAI Capital Management

MAI Capital Management raised its stake in The Hershey Company (NYSE:HSY) by 11.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 123,160 shares of the company’s stock after buying an additional 12,832 shares during the quarter. MAI Capital Management owned approximately 0.06% of Hershey worth $23,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. raised its position in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. Burns J W & Co. Inc. NY grew its stake 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 acquiring an additional 58 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Hershey by 3.7% in 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 period. Brighton Jones LLC boosted its holdings in shares of 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. grew its position in Hershey by 1.5% during 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 in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on HSY. Piper Sandler increased their target price on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Barclays dropped their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

NYSE:HSY opened at $170.92 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The company has a 50-day moving average of $187.31 and a 200-day moving average of $191.78. The Hershey Company has a 52 week low of $170.58 and a 52 week high of $211.92. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.10 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

Hershey Profile

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.