Shum Financial Group Inc. Makes New $792,000 Investment in The Hershey Company (NYSE:HSY)

Shum Financial Group Inc. purchased a new position in shares of The Hershey Company (NYSE:HSY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,396 shares of the company’s stock, valued at approximately $792,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the third quarter valued at $25,000. Capital Advisors Ltd. LLC increased its holdings 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 holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Hershey in the second quarter valued at $29,000. Finally, Gradient Investments LLC increased its holdings in shares of Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after purchasing an additional 105 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Bank of America decreased their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus decreased their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Trading Down 1.2 %

NYSE HSY traded down $2.11 during trading hours on Tuesday, reaching $173.43. The company’s stock had a trading volume of 112,637 shares, compared to its average volume of 1,696,374. The firm has a fifty day simple moving average of $184.00 and a 200-day simple moving average of $190.73. The stock has a market cap of $35.09 billion, a P/E ratio of 20.22, a P/E/G ratio of 4.19 and a beta of 0.38. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.16%. Hershey’s dividend payout ratio (DPR) is presently 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.