Birmingham Capital Management Co. Inc. AL Sells 800 Shares of The Hershey Company (NYSE:HSY)

Birmingham Capital Management Co. Inc. AL cut its holdings in The Hershey Company (NYSE:HSY) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,911 shares of the company’s stock after selling 800 shares during the period. Hershey makes up approximately 2.1% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 17th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Hershey were worth $5,736,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Lantz Financial LLC bought a new position in shares of Hershey in the second quarter valued at $1,841,000. Envestnet Portfolio Solutions Inc. grew its stake in Hershey by 33.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,990 shares of the company’s stock valued at $2,388,000 after purchasing an additional 3,275 shares during the period. Fiduciary Financial Group LLC purchased a new stake in shares of Hershey during the 2nd quarter valued at $203,000. Outlook Wealth Advisors LLC raised its stake in shares of Hershey by 24.3% during the 2nd quarter. Outlook Wealth Advisors LLC now owns 1,747 shares of the company’s stock worth $321,000 after purchasing an additional 342 shares during the period. Finally, Blue Trust Inc. raised its position in Hershey by 28.8% during the 2nd quarter. Blue Trust Inc. now owns 813 shares of the company’s stock valued at $158,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HSY shares. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Piper Sandler increased their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Bank of America reiterated a “neutral” rating and set a $180.00 price target on shares of Hershey in a research note on Thursday. Six research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.17.

Hershey Price Performance

HSY stock traded down $0.46 during trading on Friday, hitting $183.49. The company had a trading volume of 191,972 shares, compared to its average volume of 1,813,496. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 4.24 and a beta of 0.37. 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 business has a 50 day moving average of $180.11 and a 200 day moving average of $188.50. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. Hershey’s dividend payout ratio 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.