Atom Investors LP Takes Position in The Hershey Company (NYSE:HSY)

Atom Investors LP purchased a new stake in The Hershey Company (NYSE:HSY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,085 shares of the company’s stock, valued at approximately $208,000.

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

Analysts Set New Price Targets

Several brokerages have recently commented on HSY. Stifel Nicolaus dropped their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Piper Sandler increased their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Down 0.9 %

Shares of NYSE:HSY opened at $177.87 on Thursday. The Hershey Company has a one year low of $168.16 and a one year high of $211.92. The company has a 50 day moving average of $181.32 and a 200-day moving average of $189.32. 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 market cap of $35.99 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 4.26 and a beta of 0.37.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

About Hershey

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.