The Hershey Company (NYSE:HSY) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS cut its stake in The Hershey Company (NYSE:HSY) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,355 shares of the company’s stock after selling 235 shares during the quarter. Hershey makes up approximately 1.0% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 28th largest holding. Legacy Wealth Management LLC MS’s holdings in Hershey were worth $2,753,000 at the end of the most recent reporting period.

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

Hershey Stock Down 0.5 %

NYSE:HSY traded down $0.95 during midday trading on Friday, hitting $183.00. 345,292 shares of the company were exchanged, compared to its average volume of 1,814,080. The company has a fifty day simple moving average of $180.11 and a 200 day simple moving average of $188.50. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92. 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 has a market capitalization of $37.03 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37.

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 paid a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 2.99%. Hershey’s dividend payout ratio is presently 63.13%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HSY. JPMorgan Chase & Co. cut their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Wells Fargo & Company downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $175.00 to $160.00 in a report on Thursday. 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 report on Friday, October 25th. Mizuho cut their price target on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating for the company in a report on Monday. Finally, Jefferies Financial Group dropped their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.17.

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.