Swiss National Bank Sells 4,100 Shares of The Hershey Company (NYSE:HSY)

Swiss National Bank lessened its stake in shares of The Hershey Company (NYSE:HSY) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,100 shares of the company’s stock after selling 4,100 shares during the quarter. Swiss National Bank owned approximately 0.22% of Hershey worth $84,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HSY. Ashton Thomas Securities LLC bought a new stake in Hershey during the 3rd quarter valued at $25,000. Capital Advisors Ltd. LLC boosted its position in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management bought a new stake in Hershey during the 2nd quarter valued at $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey during the 1st quarter valued at $35,000. Institutional investors own 57.96% of the company’s stock.

Analyst Ratings Changes

HSY has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Piper Sandler raised their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group lowered their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Performance

NYSE HSY opened at $169.99 on Tuesday. The stock has a 50-day simple moving average of $186.65 and a two-hundred day simple moving average of $191.60. The firm has a market capitalization of $34.39 billion, a P/E ratio of 19.58, a PEG ratio of 4.10 and a beta of 0.38. The Hershey Company has a fifty-two week low of $169.10 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.22%. Hershey’s payout ratio is currently 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.