Verity & Verity LLC Has $13.15 Million Position in The Hershey Company (NYSE:HSY)

Verity & Verity LLC lifted its position in shares of The Hershey Company (NYSE:HSY) by 28.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,552 shares of the company’s stock after purchasing an additional 15,283 shares during the period. Verity & Verity LLC’s holdings in Hershey were worth $13,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares during the last quarter. Confluence Investment Management LLC raised its stake in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Hershey during the 2nd quarter valued at $82,123,000. Principal Financial Group Inc. boosted its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after purchasing an additional 230,077 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

HSY has been the topic of several research reports. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Bank of America cut their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus decreased their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, Barclays cut their target price 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. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $189.33.

Hershey Trading Up 0.3 %

NYSE:HSY opened at $169.99 on Tuesday. The Hershey Company has a 52 week low of $169.10 and a 52 week high of $211.92. The firm’s fifty day moving average is $186.65 and its 200-day moving average is $191.60. The firm has a market cap of $34.40 billion, a P/E ratio of 19.58, a P/E/G ratio of 4.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 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.