Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,241 Shares of The Hershey Company (NYSE:HSY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Hershey Company (NYSE:HSY) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,267 shares of the company’s stock after buying an additional 1,241 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hershey were worth $9,832,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HSY. Ashton Thomas Securities LLC purchased a new position in Hershey during the third quarter worth $25,000. Capital Advisors Ltd. LLC boosted 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 purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Hershey in the 2nd quarter worth about $29,000. Finally, Gradient Investments LLC lifted its stake in Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Up 1.2 %

HSY opened at $176.13 on Monday. 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 firm has a market cap of $35.64 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 4.22 and a beta of 0.38. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The stock has a fifty day moving average price of $182.20 and a 200-day moving average price of $189.81.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.11%. Hershey’s dividend payout ratio is presently 63.13%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America cut their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group assumed coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Jefferies Financial Group decreased their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Finally, Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Five 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, Hershey presently has an average 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.