Sumitomo Mitsui Trust Group Inc. Sells 6,401 Shares of The Hershey Company (NYSE:HSY)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of The Hershey Company (NYSE:HSY) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 381,808 shares of the company’s stock after selling 6,401 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hershey were worth $73,223,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position 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 in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in Hershey by 3.7% in the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares in the last quarter. Brighton Jones LLC grew its stake in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after acquiring an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after acquiring an additional 61 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HSY shares. Barclays cut their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday. Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Stifel Nicolaus dropped their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Finally, The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. 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 Trading Down 3.1 %

Shares of Hershey stock opened at $178.77 on Friday. The firm has a market cap of $36.16 billion, a PE ratio of 20.60, a P/E/G ratio of 4.35 and a beta of 0.38. The Hershey Company has a 1 year low of $171.67 and a 1 year high of $211.92. 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 stock has a fifty day moving average price of $188.28 and a 200-day moving average price of $192.05.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

Hershey Company 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.