BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 39,388 Shares of The Hershey Company (NYSE:HSY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in The Hershey Company (NYSE:HSY) by 32.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,294 shares of the company’s stock after selling 39,388 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Hershey were worth $15,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HSY. Ashton Thomas Securities LLC bought a new stake in Hershey in the third quarter worth approximately $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Hershey by 218.2% in 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. lifted its position in shares of 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 during the period. OFI Invest Asset Management bought a new position in Hershey during the second quarter worth $29,000. Finally, Gradient Investments LLC grew its holdings in Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of HSY opened at $174.81 on Friday. The stock has a 50 day moving average of $184.51 and a 200 day moving average of $190.96. The company has a market capitalization of $35.37 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.19 and a beta of 0.38. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HSY shares. Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group assumed coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. 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 report on Monday, November 11th. Finally, Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $189.33.

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.