Blueshift Asset Management LLC Invests $543,000 in The Hershey Company (NYSE:HSY)

Blueshift Asset Management LLC bought a new stake in The Hershey Company (NYSE:HSY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,830 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds have also bought and sold shares of the stock. Silvercrest Asset Management Group LLC grew its position in Hershey by 4.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 11,118 shares of the company’s stock worth $2,162,000 after acquiring an additional 495 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Hershey by 86.7% in the 1st quarter. Tidal Investments LLC now owns 11,869 shares of the company’s stock worth $2,308,000 after purchasing an additional 5,511 shares in the last quarter. Comerica Bank increased its position in shares of Hershey by 3.4% during the 1st quarter. Comerica Bank now owns 49,456 shares of the company’s stock valued at $9,619,000 after purchasing an additional 1,607 shares during the last quarter. Swedbank AB purchased a new position in shares of Hershey during the 1st quarter valued at about $25,588,000. Finally, Atria Investments Inc lifted its position in Hershey by 30.5% in the 1st quarter. Atria Investments Inc now owns 32,581 shares of the company’s stock worth $6,337,000 after buying an additional 7,612 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Up 0.5 %

Shares of Hershey stock opened at $174.09 on Thursday. The company’s fifty day simple moving average is $183.01 and its two-hundred day simple moving average is $190.39. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. 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 company has a market cap of $35.23 billion, a P/E ratio of 20.06, a PEG ratio of 4.21 and a beta of 0.38.

Hershey Announces Dividend

The business 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. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Analyst Ratings Changes

HSY has been the topic of a number of recent research reports. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Bank of America lowered their price target 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. Redburn Atlantic started coverage on Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $189.33.

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.