Oppenheimer & Co. Inc. Sells 3,552 Shares of The Hershey Company (NYSE:HSY)

Oppenheimer & Co. Inc. lowered its stake in shares of The Hershey Company (NYSE:HSY) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,872 shares of the company’s stock after selling 3,552 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hershey were worth $11,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of HSY. Ashton Thomas Securities LLC bought a new stake in Hershey in the third quarter worth $25,000. Capital Advisors Ltd. LLC grew its position in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Hershey during the 2nd quarter valued at approximately $29,000. Finally, Crewe Advisors LLC purchased a new stake in Hershey during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.2 %

Shares of HSY traded up $0.30 during trading hours on Wednesday, hitting $181.80. The company had a trading volume of 97,239 shares, compared to its average volume of 1,685,552. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $36.78 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The Hershey Company has a one year low of $171.67 and a one year high of $211.92. The company’s fifty day moving average price is $188.88 and its two-hundred day moving average price is $192.13.

Hershey Announces Dividend

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 issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America cut their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada dropped their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Redburn Atlantic initiated 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. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus target price 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.