Raymond James Trust N.A. Sells 135 Shares of The Hershey Company (NYSE:HSY)

Raymond James Trust N.A. cut its position in The Hershey Company (NYSE:HSY) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,786 shares of the company’s stock after selling 135 shares during the period. Raymond James Trust N.A.’s holdings in Hershey were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Hershey in the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Hershey during the 2nd quarter valued at approximately $29,000. Finally, Gradient Investments LLC boosted its holdings in Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus lowered 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. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Piper Sandler raised their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America decreased their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Price Performance

Shares of Hershey stock opened at $175.49 on Tuesday. The business’s 50-day moving average price is $184.00 and its 200-day moving average price is $190.73. The firm has a market capitalization of $35.51 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The Hershey Company has a 12 month low of $168.16 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.

Hershey Announces Dividend

The firm also recently declared 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 dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 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.