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

Prime Capital Investment Advisors LLC trimmed its stake in shares of The Hershey Company (NYSE:HSY) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in Hershey during the 3rd quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in Hershey during the second quarter valued at $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey during the first quarter valued at $35,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group cut their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Five investment 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 company presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

Shares of NYSE HSY opened at $170.92 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm’s 50-day simple moving average is $187.31 and its 200 day simple moving average is $191.81. The stock has a market cap 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 Hershey Company has a fifty-two week low of $170.58 and a fifty-two week high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s payout ratio is 63.13%.

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.