Kestra Investment Management LLC Invests $588,000 in The Hershey Company (NYSE:HSY)

Kestra Investment Management LLC purchased a new stake in shares of The Hershey Company (NYSE:HSY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,065 shares of the company’s stock, valued at approximately $588,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Burns J W & Co. Inc. NY increased its position in Hershey by 0.8% during the third 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 last quarter. Wesbanco Bank Inc. raised its stake in Hershey by 3.7% during the second 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 boosted its holdings in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares during the last quarter. Finally, Valley Brook Capital Group Inc. grew its stake in shares of Hershey by 1.5% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after buying an additional 61 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

HSY stock opened at $176.13 on Monday. The business’s 50-day moving average is $182.20 and its two-hundred day moving average is $189.81. 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 firm has a market capitalization of $35.64 billion, a P/E ratio of 20.29, a P/E/G ratio of 4.22 and a beta of 0.38. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.11%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analyst Weigh In

HSY has been the topic of several analyst reports. Bank of America reduced their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Sanford C. Bernstein downgraded 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. Piper Sandler upped their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and dropped their price target for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey 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.