Brooklyn Investment Group Reduces Position in The Hershey Company (NYSE:HSY)

Brooklyn Investment Group decreased its position in shares of The Hershey Company (NYSE:HSY) by 13.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 942 shares of the company’s stock after selling 150 shares during the quarter. Brooklyn Investment Group’s holdings in Hershey were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Hershey in the third quarter valued at about $25,000. Capital Advisors Ltd. LLC lifted its position in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in 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 buying an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new position in Hershey in the second quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its position in shares of Hershey by 71.9% during the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HSY shares. Piper Sandler increased their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Bank of America dropped their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. 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, the stock has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Trading Up 0.5 %

Hershey stock opened at $174.09 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $35.23 billion, a PE ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.38. The stock has a 50-day moving average price of $183.01 and a 200 day moving average price of $190.39. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92.

Hershey Announces Dividend

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

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.