The Hershey Company (NYSE:HSY) Stake Lifted by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its position in shares of The Hershey Company (NYSE:HSY) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,141 shares of the company’s stock after purchasing an additional 1,644 shares during the period. Hershey accounts for about 1.3% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 14th largest holding. SevenBridge Financial Group LLC’s holdings in Hershey were worth $7,344,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Hershey during the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Hershey in the second quarter valued at $29,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Hershey in the third quarter valued at $46,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HSY. Argus cut Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group downgraded 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 report on Monday, October 7th. Royal Bank of Canada decreased their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Performance

Shares of NYSE HSY opened at $174.81 on Friday. 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 Hershey Company has a one year low of $168.16 and a one year high of $211.92. The business’s 50-day moving average price is $184.51 and its two-hundred day moving average price is $190.96. The company has a market capitalization of $35.37 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid 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 3.13%. Hershey’s payout ratio is 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.