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

Legacy Wealth Management LLC MS trimmed its position in shares of The Hershey Company (NYSE:HSY) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,355 shares of the company’s stock after selling 235 shares during the quarter. Hershey accounts for 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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Brighton Jones LLC increased its stake in shares of Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after acquiring an additional 59 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after buying an additional 61 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Hershey by 10.4% during the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock worth $119,000 after buying an additional 61 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

HSY traded down $0.95 during trading hours on Friday, hitting $183.00. 345,292 shares of the stock were exchanged, compared to its average volume of 1,814,080. The stock has a 50-day simple moving average of $180.11 and a 200-day simple moving average of $188.50. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 4.24 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.

Hershey Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on HSY. Mizuho decreased their price objective on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Piper Sandler boosted their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company cut shares of Hershey from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $175.00 to $160.00 in a research note on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, Hershey presently has an average rating of “Hold” and an average target price of $185.17.

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.