Fiduciary Trust Co Sells 100 Shares of The Hershey Company (NYSE:HSY)

Fiduciary Trust Co lessened its stake in The Hershey Company (NYSE:HSY) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,957 shares of the company’s stock after selling 100 shares during the period. Fiduciary Trust Co’s holdings in Hershey were worth $4,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hershey by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,267 shares of the company’s stock valued at $9,832,000 after purchasing an additional 1,241 shares during the period. Providence Capital Advisors LLC increased its holdings in Hershey by 1.1% during the 3rd quarter. Providence Capital Advisors LLC now owns 34,142 shares of the company’s stock valued at $6,548,000 after purchasing an additional 388 shares during the period. CreativeOne Wealth LLC increased its holdings in Hershey by 31.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,310 shares of the company’s stock valued at $1,594,000 after purchasing an additional 1,966 shares during the period. Blueshift Asset Management LLC purchased a new position in Hershey during the 3rd quarter valued at about $543,000. Finally, Freedom Investment Management Inc. increased its holdings in Hershey by 2.8% during the 3rd quarter. Freedom Investment Management Inc. now owns 4,275 shares of the company’s stock valued at $820,000 after purchasing an additional 117 shares during the period. Institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HSY. Bank of America reduced their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. The Goldman Sachs Group began coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Piper Sandler upped their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, 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. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Performance

HSY stock opened at $174.09 on Friday. The stock has a market capitalization of $35.23 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.17 and a beta of 0.38. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. 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 stock’s 50 day simple moving average is $182.58 and its 200 day simple moving average is $190.28.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.15%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

About Hershey

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.