GAMMA Investing LLC Raises Position in The Hershey Company (NYSE:HSY)

GAMMA Investing LLC increased its stake in The Hershey Company (NYSE:HSYFree Report) by 35.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,489 shares of the company’s stock after buying an additional 1,435 shares during the quarter. GAMMA Investing LLC’s holdings in Hershey were worth $930,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Lantz Financial LLC acquired a new position in shares of Hershey during the second quarter worth $1,841,000. Foundations Investment Advisors LLC acquired a new position in Hershey in the 2nd quarter worth $206,000. TD Asset Management Inc boosted its position in Hershey by 0.5% in the 2nd quarter. TD Asset Management Inc now owns 353,374 shares of the company’s stock valued at $64,961,000 after buying an additional 1,697 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Hershey by 19.7% during the second quarter. National Bank of Canada FI now owns 73,587 shares of the company’s stock valued at $13,421,000 after acquiring an additional 12,130 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Hershey by 3.5% during the second quarter. Victory Capital Management Inc. now owns 99,042 shares of the company’s stock worth $18,207,000 after acquiring an additional 3,379 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Piper Sandler lifted their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, Hershey presently has an average rating of “Hold” and an average price target of $184.61.

Get Our Latest Research Report on Hershey

Hershey Trading Up 0.1 %

NYSE:HSY opened at $169.03 on Friday. The Hershey Company has a 12-month low of $166.69 and a 12-month high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The business has a 50 day simple moving average of $175.74 and a 200 day simple moving average of $186.11. The firm has a market capitalization of $34.20 billion, a P/E ratio of 19.47, a P/E/G ratio of 4.38 and a beta of 0.38.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. Hershey’s dividend payout ratio is currently 63.13%.

Hershey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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