Dakota Wealth Management Decreases Holdings in The Hershey Company (NYSE:HSY)

Dakota Wealth Management cut its stake in shares of The Hershey Company (NYSE:HSY) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,010 shares of the company’s stock after selling 184 shares during the period. Dakota Wealth Management’s holdings in Hershey were worth $5,421,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Hershey by 30,461.7% in 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. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp increased its stake in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after buying an additional 139,831 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hershey by 2.6% in the 3rd 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 period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Down 1.6 %

Shares of NYSE HSY opened at $151.18 on Thursday. The firm’s 50-day moving average price is $170.78 and its 200-day moving average price is $183.96. 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 capitalization of $30.59 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 4.28 and a beta of 0.38. The Hershey Company has a 12-month low of $150.31 and a 12-month high of $211.92.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. Citigroup dropped their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Jefferies Financial Group dropped their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $175.00.

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.