Amalgamated Bank Sells 1,029 Shares of The Hershey Company (NYSE:HSY)

Amalgamated Bank trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 3.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,279 shares of the company’s stock after selling 1,029 shares during the quarter. Amalgamated Bank’s holdings in Hershey were worth $5,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC raised its stake in shares of Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after buying an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Hershey by 179.4% in the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after purchasing an additional 4,468 shares in the last quarter. SG Americas Securities LLC increased its stake in Hershey by 239.2% in the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after purchasing an additional 15,538 shares in the last quarter. Sei Investments Co. increased its stake in Hershey by 2.2% in the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Hershey by 20.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after purchasing an additional 2,635 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HSY. The Goldman Sachs Group began coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Jefferies Financial Group reduced their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $191.61.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Hershey Stock Performance

Shares of HSY stock opened at $172.89 on Friday. The stock has a market cap of $34.97 billion, a P/E ratio of 19.21, a P/E/G ratio of 4.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The company has a fifty day moving average price of $189.89 and a two-hundred day moving average price of $192.34. The Hershey Company has a one year low of $171.67 and a one year high of $211.92.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. Hershey’s dividend payout ratio is currently 60.89%.

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.