Citigroup Inc. Trims Position in The Hershey Company (NYSE:HSY)

Citigroup Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,412 shares of the company’s stock after selling 6,298 shares during the period. Citigroup Inc.’s holdings in Hershey were worth $28,846,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the period. Principal Financial Group Inc. lifted its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Hershey by 23.2% in the second 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 in the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group began coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Barclays lowered their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price 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. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Up 0.4 %

NYSE:HSY opened at $175.49 on Tuesday. The stock has a 50-day simple moving average of $184.00 and a 200 day simple moving average of $190.73. The Hershey Company has a one year low of $168.16 and a one year high of $211.92. The company has a market capitalization of $35.51 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

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 given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio 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.