The Hershey Company (NYSE:HSY) Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its position in The Hershey Company (NYSE:HSY) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,141 shares of the company’s stock after purchasing an additional 1,644 shares during the quarter. Hershey accounts for 1.3% of SevenBridge Financial Group LLC’s portfolio, making the stock its 14th largest position. SevenBridge Financial Group LLC’s holdings in Hershey were worth $7,344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC purchased a new position in shares of Hershey during the 3rd quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its holdings in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Hershey in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its position in shares of Hershey by 71.9% during 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 last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY opened at $174.81 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $184.51 and its 200-day moving average is $190.96. The stock has a market cap of $35.37 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92.

Hershey Dividend Announcement

The firm also recently announced 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. This represents a $5.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Analyst Ratings Changes

HSY has been the subject of several research analyst reports. Barclays lowered 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. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Piper Sandler raised their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Stifel Nicolaus dropped their target price 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. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.