Moors & Cabot Inc. Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Moors & Cabot Inc. trimmed its holdings in The Hershey Company (NYSE:HSY) by 25.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,015 shares of the company’s stock after selling 3,077 shares during the period. Moors & Cabot Inc.’s holdings in Hershey were worth $1,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HSY. Lake Street Advisors Group LLC raised its holdings in shares of Hershey by 35.3% in the first quarter. Lake Street Advisors Group LLC now owns 2,044 shares of the company’s stock worth $397,000 after buying an additional 533 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Hershey in the first quarter worth approximately $35,000. EntryPoint Capital LLC increased its holdings in Hershey by 281.0% during the 1st quarter. EntryPoint Capital LLC now owns 381 shares of the company’s stock worth $74,000 after purchasing an additional 281 shares during the period. CreativeOne Wealth LLC increased its holdings in Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Hershey by 10.5% during the 1st quarter. EP Wealth Advisors LLC now owns 3,233 shares of the company’s stock worth $629,000 after purchasing an additional 307 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of Hershey stock opened at $174.00 on Thursday. 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 Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The business has a 50-day moving average price of $185.50 and a 200 day moving average price of $191.28. The firm has a market cap of $35.21 billion, a PE ratio of 20.05, a P/E/G ratio of 4.08 and a beta of 0.38.

Hershey Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on HSY. Piper Sandler raised 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. The Goldman Sachs Group started coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and cut their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Bank of America lowered their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.