RIA Advisory Group LLC Takes $343,000 Position in The Hershey Company (NYSE:HSY)

RIA Advisory Group LLC bought a new position in shares of The Hershey Company (NYSE:HSY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,787 shares of the company’s stock, valued at approximately $343,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after purchasing an additional 25,780 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after purchasing an additional 147,215 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of HSY stock traded down $8.02 during trading on Friday, hitting $170.92. The company had a trading volume of 3,656,501 shares, compared to its average volume of 1,706,547. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.42 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 52 week low of $170.58 and a 52 week high of $211.92. The stock’s 50-day moving average is $187.31 and its two-hundred day moving average is $191.81.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is presently 63.13%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America decreased their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Barclays dropped their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Piper Sandler lifted their target price on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.