Isthmus Partners LLC Boosts Holdings in The Hershey Company (NYSE:HSY)

Isthmus Partners LLC raised its holdings in The Hershey Company (NYSE:HSY) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,585 shares of the company’s stock after buying an additional 301 shares during the quarter. Hershey makes up approximately 1.6% of Isthmus Partners LLC’s holdings, making the stock its 27th largest holding. Isthmus Partners LLC’s holdings in Hershey were worth $13,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Burns J W & Co. Inc. NY grew its holdings in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares during the period. Wesbanco Bank Inc. grew its holdings in shares of Hershey by 3.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the period. Brighton Jones LLC grew its holdings in shares of Hershey by 2.3% during the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. grew its holdings in shares of Hershey by 1.5% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HSY. Barclays decreased their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Bank of America decreased their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Jefferies Financial Group decreased their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Finally, Piper Sandler upped their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Performance

HSY stock opened at $174.09 on Friday. 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 firm has a market cap of $35.23 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.17 and a beta of 0.38. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The stock’s 50 day simple moving average is $182.58 and its 200 day simple moving average is $190.28.

Hershey Announces Dividend

The company 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 dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date 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.