Benjamin Edwards Inc. Increases Stock Position in The Hershey Company (NYSE:HSY)

Benjamin Edwards Inc. boosted its position in The Hershey Company (NYSE:HSY) by 4,739.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,475 shares of the company’s stock after acquiring an additional 87,626 shares during the quarter. Benjamin Edwards Inc.’s holdings in Hershey were worth $17,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HSY. Cetera Investment Advisers increased its position in Hershey by 457.7% during the 1st quarter. Cetera Investment Advisers now owns 78,775 shares of the company’s stock worth $15,322,000 after purchasing an additional 64,651 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Hershey by 28.1% in the first quarter. Cetera Advisors LLC now owns 14,146 shares of the company’s stock worth $2,751,000 after acquiring an additional 3,103 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Hershey by 47.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $560,000 after acquiring an additional 978 shares during the period. First Hawaiian Bank lifted its holdings in shares of Hershey by 7.0% during the 2nd quarter. First Hawaiian Bank now owns 3,851 shares of the company’s stock valued at $708,000 after acquiring an additional 251 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Hershey by 20.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,357 shares of the company’s stock worth $249,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Up 1.2 %

NYSE:HSY opened at $176.13 on Monday. The company has a market cap of $35.64 billion, a PE ratio of 20.29, a P/E/G ratio of 4.22 and a beta of 0.38. The business’s 50 day moving average is $182.20 and its two-hundred day moving average is $189.81. 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 52 week low of $168.16 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. Investors of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.11%. Hershey’s payout ratio is currently 63.13%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Argus cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Finally, Bank of America decreased their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus 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.