D.B. Root & Company LLC Sells 124 Shares of The Hershey Company (NYSE:HSY)

D.B. Root & Company LLC lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,224 shares of the company’s stock after selling 124 shares during the quarter. D.B. Root & Company LLC’s holdings in Hershey were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. lifted its position 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 stake in shares of Hershey during the second quarter worth approximately $29,000. Crewe Advisors LLC acquired a new position in shares of Hershey in the first quarter valued at approximately $35,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Hershey during the third quarter worth approximately $48,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 2.2 %

HSY stock opened at $172.89 on Friday. The stock has a market capitalization of $34.97 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 4.14 and a beta of 0.38. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $189.89 and a 200-day moving average price of $192.34. The Hershey Company has a 12 month low of $171.67 and a 12 month high of $211.92.

Hershey Dividend Announcement

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 dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.17%. Hershey’s dividend payout ratio (DPR) is currently 60.89%.

Analyst Ratings Changes

HSY has been the topic of a number of research reports. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Piper Sandler cut their price objective on shares of Hershey from $179.00 to $165.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus lowered their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Finally, Argus cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $191.61.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Hershey Company 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.