Drive Wealth Management LLC Sells 68 Shares of The Hershey Company (NYSE:HSY)

Drive Wealth Management LLC trimmed its position in shares of The Hershey Company (NYSE:HSY) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,232 shares of the company’s stock after selling 68 shares during the period. Drive Wealth Management LLC’s holdings in Hershey were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HSY. O Shaughnessy Asset Management LLC raised its stake in Hershey by 1.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,584 shares of the company’s stock valued at $3,615,000 after acquiring an additional 245 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Hershey by 354.9% in the first quarter. UniSuper Management Pty Ltd now owns 6,632 shares of the company’s stock valued at $1,290,000 after purchasing an additional 5,174 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Hershey by 35.3% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,044 shares of the company’s stock valued at $397,000 after buying an additional 533 shares in the last quarter. Vaughan David Investments LLC IL boosted its holdings in Hershey by 12.8% in the 1st quarter. Vaughan David Investments LLC IL now owns 1,573 shares of the company’s stock worth $306,000 after buying an additional 179 shares during the period. Finally, Elgethun Capital Management boosted its holdings in Hershey by 29.5% in the 1st quarter. Elgethun Capital Management now owns 681 shares of the company’s stock worth $133,000 after buying an additional 155 shares during the period. 57.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Bank of America reduced their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Barclays reduced their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $189.33.

Hershey Stock Up 0.3 %

Shares of HSY opened at $169.99 on Tuesday. The firm has a market cap of $34.39 billion, a P/E ratio of 19.58, a P/E/G ratio of 4.10 and a beta of 0.38. The Hershey Company has a 1 year low of $169.10 and a 1 year high of $211.92. The stock has a 50 day simple moving average of $186.65 and a two-hundred day simple moving average of $191.60. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is presently 63.13%.

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.