ClearAlpha Technologies LP Sells 243 Shares of The Hershey Company (NYSE:HSY)

ClearAlpha Technologies LP reduced its stake in The Hershey Company (NYSE:HSY) by 14.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,399 shares of the company’s stock after selling 243 shares during the period. ClearAlpha Technologies LP’s holdings in Hershey were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Hershey during the 3rd quarter worth approximately $25,000. Capital Advisors Ltd. LLC lifted 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. boosted its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management acquired a new position in shares of Hershey in the second quarter valued at about $29,000. Finally, Gradient Investments LLC increased its position in Hershey by 71.9% during the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

HSY stock opened at $177.80 on Tuesday. The stock has a market cap of $35.98 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 4.22 and a beta of 0.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The company has a 50 day simple moving average of $181.86 and a 200 day simple moving average of $189.59. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.08%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analyst Ratings Changes

A number of analysts have issued reports on HSY shares. Royal Bank of Canada cut their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Bank of America cut their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus price target of $189.33.

About Hershey

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.