Covestor Ltd Sells 79 Shares of The Hershey Company (NYSE:HSY)

Covestor Ltd lessened its stake in shares of The Hershey Company (NYSE:HSY) by 32.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167 shares of the company’s stock after selling 79 shares during the quarter. Covestor Ltd’s holdings in Hershey were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Hershey by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after acquiring an additional 90,329 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Royal Bank of Canada decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Bank of America decreased their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat, Hershey has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Price Performance

Shares of NYSE:HSY opened at $170.92 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a fifty day moving average price of $187.89 and a 200 day moving average price of $191.96. The Hershey Company has a fifty-two week low of $170.58 and a fifty-two week high of $211.92. The firm has a market cap of $34.58 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 4.42 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.21%. Hershey’s dividend payout ratio (DPR) is currently 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.