KBC Group NV Purchases 3,071 Shares of The Hershey Company (NYSE:HSY)

KBC Group NV grew its position in The Hershey Company (NYSE:HSY) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,701 shares of the company’s stock after acquiring an additional 3,071 shares during the quarter. KBC Group NV’s holdings in Hershey were worth $10,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HSY. Ashton Thomas Securities LLC bought a new stake in Hershey in the third quarter worth $25,000. Capital Advisors Ltd. LLC increased its holdings in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Hershey in the 2nd quarter valued at about $29,000. Finally, Crewe Advisors LLC purchased a new position in Hershey in the first quarter worth about $35,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HSY has been the subject of several analyst reports. Piper Sandler raised their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus dropped their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $189.33.

Hershey Stock Performance

HSY stock opened at $170.92 on Friday. The Hershey Company has a 1-year low of $170.58 and a 1-year high of $211.92. The business has a 50-day moving average price of $187.31 and a 200 day moving average price of $191.81. The company has a market capitalization of $34.58 billion, a P/E ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. 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.