Sigma Planning Corp Sells 247 Shares of The Hershey Company (NYSE:HSY)

Sigma Planning Corp lowered its holdings in The Hershey Company (NYSE:HSY) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,822 shares of the company’s stock after selling 247 shares during the period. Sigma Planning Corp’s holdings in Hershey were worth $349,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. raised its position in Hershey by 2.2% in the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock worth $10,608,000 after acquiring an additional 1,168 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Hershey by 7.5% in the 1st quarter. Bleakley Financial Group LLC now owns 1,966 shares of the company’s stock worth $382,000 after purchasing an additional 138 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Hershey by 32.4% in the first quarter. Orion Portfolio Solutions LLC now owns 12,472 shares of the company’s stock valued at $2,426,000 after purchasing an additional 3,052 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Hershey by 31.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,676 shares of the company’s stock valued at $715,000 after purchasing an additional 876 shares during the period. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Hershey by 33.3% in the first quarter. Tocqueville Asset Management L.P. now owns 1,602 shares of the company’s stock valued at $312,000 after buying an additional 400 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 4.5 %

HSY opened at $170.92 on Friday. The Hershey Company has a 12 month low of $170.58 and a 12 month high of $211.92. 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 price is $187.89 and its 200-day moving average price is $191.96. The company has a market cap of $34.58 billion, a P/E ratio of 19.69, a P/E/G ratio of 4.42 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s payout ratio is presently 63.13%.

Analyst Ratings Changes

Several research firms have commented on HSY. Jefferies Financial Group dropped their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. 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, Royal Bank of Canada decreased their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $189.33.

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.