Providence Capital Advisors LLC Has $6.55 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Providence Capital Advisors LLC lifted its stake in The Hershey Company (NYSE:HSYFree Report) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 34,142 shares of the company’s stock after purchasing an additional 388 shares during the quarter. Hershey comprises approximately 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 24th biggest position. Providence Capital Advisors LLC’s holdings in Hershey were worth $6,548,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares during the last quarter. Principal Financial Group Inc. increased its position 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 during the last quarter. Dimensional Fund Advisors LP increased its position in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after buying an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America lowered their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their price target on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Stifel Nicolaus decreased their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Finally, Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $189.33.

View Our Latest Stock Analysis on HSY

Hershey Stock Up 0.5 %

NYSE HSY opened at $174.09 on Thursday. 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 has a 50-day simple moving average of $183.01 and a 200 day simple moving average of $190.39. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The stock has a market cap of $35.23 billion, a PE ratio of 20.06, a PEG ratio of 4.21 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

About Hershey

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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