Smithfield Trust Co Has $1.96 Million Stake in The Hershey Company (NYSE:HSY)

Smithfield Trust Co grew its position in The Hershey Company (NYSE:HSY) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,233 shares of the company’s stock after purchasing an additional 514 shares during the quarter. Smithfield Trust Co’s holdings in Hershey were worth $1,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. International Assets Investment Management LLC lifted its stake in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hershey in the 2nd quarter valued at $82,123,000. Principal Financial Group Inc. lifted its stake in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after acquiring an additional 230,077 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HSY shares. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and dropped their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Barclays reduced their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Stock Up 2.2 %

HSY opened at $174.00 on Thursday. The company has a fifty day moving average price of $185.50 and a 200-day moving average price of $191.28. The firm has a market capitalization of $35.21 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 4.08 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The Hershey Company has a one year low of $168.16 and a one year high of $211.92.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Hershey Company 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.