Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in The Hershey Company (NYSE:HSY)

Kentucky Retirement Systems Insurance Trust Fund cut its position in The Hershey Company (NYSE:HSY) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,372 shares of the company’s stock after selling 389 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Hershey were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HSY. Ashton Thomas Securities LLC acquired a new position in shares of Hershey during the 3rd quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the second quarter valued at approximately $29,000. Finally, Crewe Advisors LLC acquired a new stake in Hershey during the first quarter worth approximately $35,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

Hershey stock opened at $170.92 on Monday. 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 firm has a market capitalization of $34.58 billion, a P/E ratio of 19.69, a PEG ratio of 4.10 and a beta of 0.38. The firm has a fifty day moving average of $187.31 and a 200-day moving average of $191.78. The Hershey Company has a 52-week low of $170.58 and a 52-week high of $211.92.

Hershey Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.