Connor Clark & Lunn Investment Management Ltd. Has $1.85 Million Position in The Hershey Company (NYSE:HSY)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in The Hershey Company (NYSE:HSY) by 95.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,639 shares of the company’s stock after selling 215,618 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hershey were worth $1,849,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the third quarter valued at approximately $25,000. Capital Advisors Ltd. LLC boosted its stake in 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 purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Hershey in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its holdings in shares of Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after purchasing an additional 105 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

HSY has been the topic of several research reports. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and cut their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. 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 research report on Friday, November 8th. 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. Deutsche Bank Aktiengesellschaft upped their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lowered their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Trading Up 0.4 %

Shares of HSY opened at $175.49 on Tuesday. The firm has a fifty day simple moving average of $184.00 and a two-hundred day simple moving average of $190.73. The stock has a market capitalization of $35.51 billion, a P/E ratio of 20.22, a PEG ratio of 4.19 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92.

Hershey Dividend Announcement

The business 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 is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.12%. Hershey’s dividend payout ratio is currently 63.13%.

Hershey 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.