KBC Group NV Raises Stock Holdings in The Hershey Company (NYSE:HSY)

KBC Group NV raised its stake in The Hershey Company (NYSE:HSY) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,701 shares of the company’s stock after purchasing an additional 3,071 shares during the period. KBC Group NV’s holdings in Hershey were worth $10,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after acquiring an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Hershey by 2.2% during the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after purchasing an additional 1,168 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock worth $2,986,000 after purchasing an additional 2,635 shares in the last quarter. Finally, JLB & Associates Inc. grew its stake in Hershey by 53.5% during the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock worth $12,414,000 after buying an additional 22,562 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Bank of America lowered their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. 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 equities 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, Hershey currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Stock Down 4.5 %

HSY opened at $170.92 on Friday. The company has a fifty day moving average of $187.31 and a two-hundred day moving average of $191.81. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38. The Hershey Company has a fifty-two week low of $170.58 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a dividend yield of 3.21%. Hershey’s dividend 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.