Turtle Creek Wealth Advisors LLC Acquires 242 Shares of The Hershey Company (NYSE:HSY)

Turtle Creek Wealth Advisors LLC grew its holdings in The Hershey Company (NYSE:HSY) by 1.1% in the third quarter, HoldingsChannel reports. The fund owned 22,227 shares of the company’s stock after buying an additional 242 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Hershey were worth $4,263,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares during the period. CreativeOne Wealth LLC raised its stake in Hershey by 179.4% in the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after purchasing an additional 4,468 shares in the last quarter. Sei Investments Co. raised its stake in Hershey by 2.2% in the first 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Hershey by 20.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after purchasing an additional 2,635 shares in the last quarter. Finally, JLB & Associates Inc. raised its stake in Hershey by 53.5% in the third quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock valued at $12,414,000 after purchasing an additional 22,562 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays dropped their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group began coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Redburn Atlantic began coverage on Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Piper Sandler boosted their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lowered their target price on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on 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 %

Shares of NYSE:HSY traded down $8.02 during trading on Friday, reaching $170.92. 3,656,501 shares of the stock were exchanged, compared to its average volume of 1,706,547. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The Hershey Company has a 1-year low of $170.58 and a 1-year high of $211.92. The stock has a fifty day moving average of $187.31 and a two-hundred day moving average of $191.81. The firm has a market cap of $34.58 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.42 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 given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is currently 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.