Charles Schwab Investment Management Inc. Raises Stock Position in The Hershey Company (NYSE:HSY)

Charles Schwab Investment Management Inc. lifted its position in shares of The Hershey Company (NYSE:HSY) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,387,715 shares of the company’s stock after acquiring an additional 109,336 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.17% of Hershey worth $841,476,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HSY shares. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Barclays reduced their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Stock Down 0.1 %

Hershey stock traded down $0.22 during trading on Thursday, reaching $173.78. 49,960 shares of the company’s stock were exchanged, compared to its average volume of 1,697,684. The company’s 50-day moving average is $185.50 and its two-hundred day moving average is $191.28. 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 Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92. The firm has a market cap of $35.16 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 4.08 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.15%. Hershey’s payout ratio is currently 63.13%.

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.