Retirement Systems of Alabama Sells 621 Shares of The Hershey Company (NYSE:HSY)

Retirement Systems of Alabama cut its holdings in shares of The Hershey Company (NYSE:HSY) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 31,941 shares of the company’s stock after selling 621 shares during the period. Retirement Systems of Alabama’s holdings in Hershey were worth $6,126,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of Hershey in the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Hershey in the third quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HSY. Mizuho reduced their price objective on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Bank of America reaffirmed a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus price target of $185.17.

Hershey Stock Down 2.9 %

NYSE:HSY opened at $172.46 on Thursday. 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 company’s fifty day moving average price is $179.25 and its 200-day moving average price is $187.95. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The firm has a market capitalization of $34.90 billion, a P/E ratio of 19.87, a PEG ratio of 4.24 and a beta of 0.37.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.18%. Hershey’s payout ratio is currently 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.