The Hershey Company (NYSE:HSY) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its stake in shares of The Hershey Company (NYSE:HSY) by 13.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,444 shares of the company’s stock after selling 219 shares during the period. Synovus Financial Corp’s holdings in Hershey were worth $277,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Hershey during the 3rd quarter valued at about $1,337,000. HighTower Advisors LLC boosted its holdings in Hershey by 61.9% in the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after purchasing an additional 45,936 shares during the last quarter. LPL Financial LLC grew its stake in shares of Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the period. MAI Capital Management increased its holdings in shares of Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock worth $23,620,000 after buying an additional 12,832 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Hershey by 171.8% during the 3rd quarter. IHT Wealth Management LLC now owns 11,140 shares of the company’s stock valued at $2,137,000 after buying an additional 7,042 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSY has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Stifel Nicolaus dropped their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $185.17.

Hershey Price Performance

Shares of NYSE:HSY opened at $172.46 on Thursday. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a 50-day moving average price of $179.25 and a 200 day moving average price of $187.95. The company has a market cap of $34.90 billion, a P/E ratio of 19.87, a PEG ratio of 4.24 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

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.