MML Investors Services LLC Cuts Position in The Hershey Company (NYSE:HSY)

MML Investors Services LLC lowered its holdings in shares of The Hershey Company (NYSE:HSY) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,302 shares of the company’s stock after selling 232 shares during the quarter. MML Investors Services LLC’s holdings in Hershey were worth $4,469,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Zacks Investment Management grew its stake in Hershey by 12.5% in the 3rd quarter. Zacks Investment Management now owns 174,170 shares of the company’s stock valued at $33,402,000 after acquiring an additional 19,309 shares during the period. National Bank of Canada FI lifted its holdings in Hershey by 39.7% during the third quarter. National Bank of Canada FI now owns 102,800 shares of the company’s stock valued at $19,715,000 after purchasing an additional 29,213 shares in the last quarter. iA Global Asset Management Inc. grew its position in shares of Hershey by 21.4% in the third quarter. iA Global Asset Management Inc. now owns 1,836 shares of the company’s stock valued at $352,000 after purchasing an additional 324 shares during the period. United Services Automobile Association increased its stake in shares of Hershey by 6.6% during the third quarter. United Services Automobile Association now owns 27,955 shares of the company’s stock worth $5,361,000 after purchasing an additional 1,724 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Hershey during the 3rd quarter worth about $241,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

NYSE HSY opened at $183.01 on Friday. The stock has a fifty day simple moving average of $179.93 and a 200-day simple moving average of $188.41. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $37.03 billion, a PE ratio of 21.08, a P/E/G ratio of 4.24 and a beta of 0.37. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut Hershey from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $175.00 to $160.00 in a report on Thursday. JPMorgan Chase & Co. dropped their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $230.00 to $205.00 in a report on Monday, October 7th. Jefferies Financial Group dropped their target price 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. Finally, Piper Sandler raised their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $185.17.

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.