CreativeOne Wealth LLC Grows Stock Position in The Hershey Company (NYSE:HSY)

CreativeOne Wealth LLC lifted its stake in The Hershey Company (NYSE:HSY) by 31.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,310 shares of the company’s stock after purchasing an additional 1,966 shares during the period. CreativeOne Wealth LLC’s holdings in Hershey were worth $1,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares during the period. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after buying an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of HSY stock opened at $174.09 on Friday. 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 stock’s 50-day moving average price is $182.58 and its 200 day moving average price is $190.28. The Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92. The stock has a market capitalization of $35.23 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.21 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Royal Bank of Canada decreased their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company 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.