Citigroup Inc. Lowers Stake in The Hershey Company (NYSE:HSY)

Citigroup Inc. trimmed its holdings in The Hershey Company (NYSE:HSY) by 4.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 150,412 shares of the company’s stock after selling 6,298 shares during the period. Citigroup Inc. owned 0.07% of Hershey worth $28,846,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Hershey during the 3rd quarter valued at approximately $1,337,000. 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 purchasing an additional 29,246 shares during the last quarter. MAI Capital Management lifted its holdings in shares of Hershey by 11.6% during the third quarter. MAI Capital Management now owns 123,160 shares of the company’s stock worth $23,620,000 after purchasing an additional 12,832 shares during the period. Portfolio Design Labs LLC purchased a new position in Hershey in the 3rd quarter valued at $1,852,000. Finally, Advisors Asset Management Inc. increased its stake in Hershey by 18.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock valued at $5,386,000 after buying an additional 4,464 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

HSY has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Redburn Atlantic started coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Piper Sandler boosted their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Finally, Bank of America decreased their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Up 0.4 %

Shares of NYSE HSY opened at $175.49 on Tuesday. 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 Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The company has a market capitalization of $35.51 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The firm’s 50-day moving average is $184.00 and its two-hundred day moving average is $190.73.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.12%. Hershey’s dividend payout ratio (DPR) 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.