The Hershey Company (NYSE:HSY) Stake Lifted by Assetmark Inc.

Assetmark Inc. raised its stake in The Hershey Company (NYSE:HSY) by 125.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 13,121 shares of the company’s stock after buying an additional 7,302 shares during the quarter. Assetmark Inc.’s holdings in Hershey were worth $2,516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its stake in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after purchasing an additional 29,246 shares during the period. CreativeOne Wealth LLC boosted its position in shares of Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after buying an additional 4,468 shares during the period. Sei Investments Co. grew its holdings in Hershey by 2.2% in the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock worth $10,608,000 after buying an additional 1,168 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after acquiring an additional 2,635 shares during the period. Finally, JLB & Associates Inc. raised its stake in Hershey by 53.5% during the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock valued at $12,414,000 after acquiring an additional 22,562 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $184.45 on Thursday. The company has a market capitalization of $37.31 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 4.35 and a beta of 0.38. The Hershey Company has a 12 month low of $171.67 and a 12 month high of $211.92. The firm has a 50 day moving average of $188.56 and a two-hundred day moving average of $192.10. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 2.97%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HSY. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and cut their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.