The Hershey Company (NYSE:HSY) Stock Holdings Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of The Hershey Company (NYSE:HSY) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 1,174,619 shares of the company’s stock after selling 98,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hershey were worth $225,268,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its position in Hershey by 86.7% during the first quarter. Tidal Investments LLC now owns 11,869 shares of the company’s stock valued at $2,308,000 after acquiring an additional 5,511 shares in the last quarter. Comerica Bank raised its holdings in shares of Hershey by 3.4% during the 1st quarter. Comerica Bank now owns 49,456 shares of the company’s stock valued at $9,619,000 after purchasing an additional 1,607 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Hershey by 457.7% in the 1st quarter. Cetera Investment Advisers now owns 78,775 shares of the company’s stock valued at $15,322,000 after purchasing an additional 64,651 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Hershey by 28.1% in the first quarter. Cetera Advisors LLC now owns 14,146 shares of the company’s stock worth $2,751,000 after purchasing an additional 3,103 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Hershey by 884.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,037 shares of the company’s stock valued at $395,000 after buying an additional 1,830 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

NYSE:HSY opened at $176.23 on Friday. 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 company has a 50-day moving average of $182.20 and a 200-day moving average of $190.05. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 4.17 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.11%. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HSY. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Hershey has an average 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.