Mawer Investment Management Ltd. Cuts Position in The Hershey Company (NYSE:HSY)

Mawer Investment Management Ltd. decreased its holdings in shares of The Hershey Company (NYSE:HSY) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,570 shares of the company’s stock after selling 19,427 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Hershey were worth $70,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cassaday & Co Wealth Management LLC raised its holdings in Hershey by 6.5% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,856 shares of the company’s stock valued at $739,000 after acquiring an additional 234 shares during the period. MAI Capital Management raised its holdings in Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock valued at $23,620,000 after acquiring an additional 12,832 shares during the period. Peterson Financial Group Inc. bought a new stake in Hershey during the 3rd quarter valued at $46,000. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Hershey by 1.1% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 22,227 shares of the company’s stock worth $4,263,000 after purchasing an additional 242 shares during the period. Finally, RIA Advisory Group LLC bought a new position in shares of Hershey in the third quarter worth $343,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.1 %

Shares of Hershey stock traded up $0.15 during trading hours on Monday, hitting $171.07. The company had a trading volume of 40,153 shares, compared to its average volume of 1,699,101. The company’s 50-day moving average is $187.31 and its two-hundred day moving average is $191.78. The Hershey Company has a twelve month low of $170.58 and a twelve month high of $211.92. The company has a market cap of $34.61 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 4.10 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.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid 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 3.20%. Hershey’s dividend payout ratio is currently 63.13%.

Analyst Ratings Changes

Several research firms have issued reports on HSY. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and cut their price target for the company from $226.00 to $209.00 in a research report on Monday, October 7th. 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 report on Friday, November 8th. JPMorgan Chase & Co. cut their price target 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. The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, the company currently 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.