Brooklyn Investment Group Sells 150 Shares of The Hershey Company (NYSE:HSY)

Brooklyn Investment Group cut its stake in The Hershey Company (NYSE:HSY) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 942 shares of the company’s stock after selling 150 shares during the period. Brooklyn Investment Group’s holdings in Hershey were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HSY. Ashton Thomas Securities LLC bought a new position in Hershey during the 3rd quarter worth about $25,000. Capital Advisors Ltd. LLC grew its holdings in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% during the 2nd 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 bought a new position in Hershey during the 2nd quarter worth about $29,000. Finally, Gradient Investments LLC grew its holdings in Hershey by 71.9% during the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on HSY. Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Barclays cut their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the stock 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 given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Performance

HSY opened at $174.09 on Thursday. 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 firm has a fifty day moving average price of $183.01 and a 200 day moving average price of $190.39. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The stock has a market cap of $35.23 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio 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.