Moors & Cabot Inc. Lowers Holdings in The Hershey Company (NYSE:HSY)

Moors & Cabot Inc. decreased its stake in shares of The Hershey Company (NYSE:HSY) by 25.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,015 shares of the company’s stock after selling 3,077 shares during the quarter. Moors & Cabot Inc.’s holdings in Hershey were worth $1,729,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. Burns J W & Co. Inc. NY increased its holdings in shares of Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of Hershey by 1.5% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Barclays cut their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, UBS Group lowered 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 report on Monday, October 7th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

Shares of Hershey stock opened at $174.00 on Thursday. The stock has a 50 day moving average of $185.50 and a 200 day moving average of $191.28. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The firm has a market cap of $35.21 billion, a PE ratio of 20.05, a PEG ratio of 4.08 and a beta of 0.38. 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is presently 63.13%.

About Hershey

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.