The Hershey Company (NYSE:HSY) Holdings Trimmed by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its holdings in The Hershey Company (NYSE:HSY) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 682,029 shares of the company’s stock after selling 29,046 shares during the period. Hershey makes up 1.6% of Confluence Investment Management LLC’s portfolio, making the stock its 23rd biggest position. Confluence Investment Management LLC owned about 0.34% of Hershey worth $115,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey during the 3rd quarter valued at about $1,337,000. Principal Financial Group Inc. grew its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. HighTower Advisors LLC grew its position in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after purchasing an additional 45,936 shares in the last quarter. LPL Financial LLC increased its stake in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the period. Finally, Soltis Investment Advisors LLC lifted its position in Hershey by 53.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 44,339 shares of the company’s stock worth $8,503,000 after buying an additional 15,497 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

HSY has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Redburn Atlantic began coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Wells Fargo & Company downgraded Hershey from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $175.00 to $160.00 in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.61.

Hershey Stock Performance

HSY stock traded up $0.15 during mid-day trading on Thursday, reaching $169.50. 164,597 shares of the stock traded hands, compared to its average volume of 1,807,945. 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 business has a 50-day moving average of $176.25 and a two-hundred day moving average of $186.33. The firm has a market capitalization of $34.30 billion, a PE ratio of 19.53, a P/E/G ratio of 4.38 and a beta of 0.37. The Hershey Company has a 52 week low of $166.69 and a 52 week high of $211.92.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.23%. Hershey’s dividend payout ratio (DPR) 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.