Confluence Investment Management LLC Has $115.50 Million Position in The Hershey Company (NYSE:HSY)

Confluence Investment Management LLC cut its position in shares of The Hershey Company (NYSE:HSY) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682,029 shares of the company’s stock after selling 29,046 shares during the quarter. Hershey accounts for 1.6% of Confluence Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. Confluence Investment Management LLC’s holdings in Hershey were worth $115,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Hershey during the second quarter worth $82,123,000. Principal Financial Group Inc. boosted its stake in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares in the last quarter. State Street Corp increased its holdings in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after buying an additional 230,077 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Trading Up 0.1 %

Hershey stock traded up $0.15 during trading hours on Thursday, reaching $169.50. 164,597 shares of the company’s stock traded hands, compared to its average volume of 1,807,945. The firm has a market capitalization of $34.30 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.38 and a beta of 0.37. 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 Hershey Company has a fifty-two week low of $166.69 and a fifty-two week high of $211.92. The firm’s 50 day moving average is $176.25 and its 200-day moving average is $186.33.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.23%. Hershey’s payout ratio is presently 63.13%.

Analyst Ratings Changes

HSY has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Barclays cut their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Jefferies Financial Group dropped their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $175.00 to $160.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $184.61.

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.