Atlantic Union Bankshares Corp Reduces Stock Holdings in The Hershey Company (NYSE:HSY)

Atlantic Union Bankshares Corp reduced its position in The Hershey Company (NYSE:HSY) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,557 shares of the company’s stock after selling 361 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Hershey were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after acquiring an additional 571,766 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Hershey in the second quarter worth about $82,123,000. Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Hershey by 1,194.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after buying an additional 230,077 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its holdings in Hershey by 744.1% in the 2nd quarter. Douglas Lane & Associates LLC now owns 167,085 shares of the company’s stock worth $30,715,000 after buying an additional 147,291 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HSY shares. 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. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Barclays reduced 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 note on Monday, November 11th. Five investment 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.com, Hershey has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Stock Up 1.2 %

Shares of HSY opened at $176.23 on Friday. The Hershey Company has a 1 year low of $168.16 and a 1 year 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 stock has a 50 day simple moving average of $182.20 and a two-hundred day simple moving average of $190.05. The firm has a market cap of $35.66 billion, a P/E ratio of 20.30, a P/E/G ratio of 4.17 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend 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.