Pitcairn Co. Has $239,000 Stock Position in The Hershey Company (NYSE:HSY)

Pitcairn Co. cut its stake in shares of The Hershey Company (NYSE:HSY) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,248 shares of the company’s stock after selling 298 shares during the period. Pitcairn Co.’s holdings in Hershey were worth $239,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HSY. Ashton Thomas Securities LLC acquired a new stake in Hershey during the 3rd quarter worth approximately $25,000. Capital Advisors Ltd. LLC lifted 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 worth $26,000 after buying an additional 96 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Hershey by 55.0% in 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 acquired a new position in shares of Hershey in the second quarter valued at about $29,000. Finally, Gradient Investments LLC raised its stake 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 purchasing an additional 105 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.5 %

Shares of HSY opened at $174.09 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.21 and a beta of 0.38. The stock has a fifty day moving average of $183.01 and a 200-day moving average of $190.39.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HSY. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Barclays reduced their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $189.33.

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.