Drive Wealth Management LLC Sells 68 Shares of The Hershey Company (NYSE:HSY)

Drive Wealth Management LLC lessened its position in shares of The Hershey Company (NYSE:HSY) by 5.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,232 shares of the company’s stock after selling 68 shares during the period. Drive Wealth Management LLC’s holdings in Hershey were worth $236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. boosted its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Hershey in the second quarter worth $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey in the first quarter valued at $35,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $169.99 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $34.39 billion, a PE ratio of 19.58, a PEG ratio of 4.10 and a beta of 0.38. The stock’s 50 day moving average price is $186.65 and its 200-day moving average price is $191.60. The Hershey Company has a twelve month low of $169.10 and a twelve month high of $211.92.

Hershey Announces Dividend

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 paid a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HSY. The Goldman Sachs Group initiated 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. Redburn Atlantic initiated coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $189.33.

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.