AMG National Trust Bank Decreases Stake in The Hershey Company (NYSE:HSY)

AMG National Trust Bank lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 0.4% in the 3rd quarter, Holdings Channel reports. The fund owned 20,584 shares of the company’s stock after selling 78 shares during the quarter. AMG National Trust Bank’s holdings in Hershey were worth $3,948,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Hershey in the 2nd quarter worth $82,123,000. Principal Financial Group Inc. raised its holdings in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Hershey by 1,194.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after acquiring an additional 230,077 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group cut their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Five 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, the company presently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Performance

Shares of HSY stock opened at $170.92 on Monday. The Hershey Company has a 52-week low of $170.58 and a 52-week high of $211.92. The stock’s 50-day moving average price is $187.31 and its 200 day moving average price is $191.78. 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 stock has a market capitalization of $34.58 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

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.