PNC Financial Services Group Inc. Sells 11,470 Shares of The Hershey Company (NYSE:HSY)

PNC Financial Services Group Inc. trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 2.6% during the third quarter, HoldingsChannel reports. The fund owned 424,523 shares of the company’s stock after selling 11,470 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hershey were worth $81,415,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after acquiring an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC grew 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 acquiring an additional 4,468 shares during the last quarter. MAI Capital Management boosted its stake in shares of Hershey by 11.6% in the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock valued at $23,620,000 after purchasing an additional 12,832 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after purchasing an additional 2,635 shares during the last quarter. Finally, JLB & Associates Inc. boosted its stake in shares of Hershey by 53.5% in the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock valued at $12,414,000 after purchasing an additional 22,562 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

HSY opened at $170.21 on Wednesday. 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 company’s fifty day moving average price is $185.99 and its two-hundred day moving average price is $191.40. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The company has a market cap of $34.44 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.10 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.22%. Hershey’s payout ratio is 63.13%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of analyst reports. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Five investment 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 company presently has an average rating of “Hold” and an average target price of $189.33.

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.