Studio Investment Management LLC Has $398,000 Stake in The Hershey Company (NYSE:HSY)

Studio Investment Management LLC increased its stake in shares of The Hershey Company (NYSE:HSY) by 17.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,077 shares of the company’s stock after buying an additional 314 shares during the quarter. Studio Investment Management LLC’s holdings in Hershey were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. lifted its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares in the last quarter. Brighton Jones LLC boosted its position in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares during the last quarter. Finally, Valley Brook Capital Group Inc. grew its stake in Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after purchasing an additional 61 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Trading Down 0.1 %

Shares of Hershey stock opened at $174.81 on Friday. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The company’s fifty day simple moving average is $184.51 and its 200-day simple moving average is $191.01. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.19 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.13%. Hershey’s payout ratio is 63.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HSY. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Piper Sandler raised their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Bank of America cut their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus decreased their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.