Prime Capital Investment Advisors LLC Sells 358 Shares of The Hershey Company (NYSE:HSY)

Prime Capital Investment Advisors LLC cut its position in The Hershey Company (NYSE:HSY) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,303 shares of the company’s stock after selling 358 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Hershey were worth $442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. International Assets Investment Management LLC boosted its holdings in Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the period. Confluence Investment Management LLC grew its position in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hershey during the second quarter worth approximately $82,123,000. Finally, Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HSY shares. Piper Sandler increased their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group decreased their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus reduced 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. Barclays decreased their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, Hershey has an average rating of “Hold” and an average price target of $189.33.

Hershey Stock Performance

Shares of HSY stock opened at $170.92 on Friday. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38. 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 business’s 50-day moving average price is $187.31 and its 200-day moving average price is $191.81. The Hershey Company has a 12 month low of $170.58 and a 12 month high of $211.92.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. 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 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.