Sigma Planning Corp Trims Stake in The Hershey Company (NYSE:HSY)

Sigma Planning Corp lowered its position in The Hershey Company (NYSE:HSY) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,822 shares of the company’s stock after selling 247 shares during the period. Sigma Planning Corp’s holdings in Hershey were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its position in 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 buying an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its position in 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 acquiring an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in Hershey during the second quarter worth about $29,000. Crewe Advisors LLC bought a new position in shares of Hershey during the first quarter valued at approximately $35,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Hershey during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 4.5 %

Shares of NYSE:HSY opened at $170.92 on Friday. The stock’s 50-day simple moving average is $187.89 and its two-hundred day simple moving average is $191.96. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38. The Hershey Company has a 52-week low of $170.58 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

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 dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.21%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Analysts Set New Price Targets

Several research firms recently weighed in on HSY. Piper Sandler upped their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group started coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target 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. Finally, Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. 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 has an average rating of “Hold” and an average target price of $189.33.

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.