The Hershey Company (NYSE:HSY) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its stake in The Hershey Company (NYSE:HSY) by 21.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,836 shares of the company’s stock after buying an additional 324 shares during the quarter. iA Global Asset Management Inc.’s holdings in Hershey were worth $352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HSY. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey during the third quarter worth $25,000. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Hershey in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its stake in Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HSY shares. Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Piper Sandler raised 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. Barclays lowered their price target on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $187.94.

Hershey Stock Performance

Shares of HSY stock opened at $187.16 on Wednesday. The stock’s 50-day moving average price is $180.67 and its 200 day moving average price is $188.69. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $37.87 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92.

Hershey Dividend Announcement

The company 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 dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 2.93%. Hershey’s payout ratio is currently 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.