Verity & Verity LLC Has $13.15 Million Stock Position in The Hershey Company (NYSE:HSY)

Verity & Verity LLC raised its stake in The Hershey Company (NYSE:HSY) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,552 shares of the company’s stock after acquiring an additional 15,283 shares during the quarter. Verity & Verity LLC’s holdings in Hershey were worth $13,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of HSY. Ashton Thomas Securities LLC acquired a new position in Hershey during the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in Hershey during the 2nd quarter worth about $29,000. Finally, Crewe Advisors LLC acquired a new position in Hershey during the 1st quarter valued at about $35,000. 57.96% of the stock is owned by institutional investors.

Hershey Stock Up 0.3 %

Shares of Hershey stock opened at $169.99 on Tuesday. The Hershey Company has a 52-week low of $169.10 and a 52-week high of $211.92. 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 business’s 50 day simple moving average is $186.65 and its 200 day simple moving average is $191.60. The firm has a market cap of $34.40 billion, a PE ratio of 19.58, a P/E/G ratio of 4.10 and a beta of 0.38.

Hershey Dividend Announcement

The firm 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 $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HSY shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Barclays decreased their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, The Goldman Sachs Group began coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $189.33.

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.