Curi RMB Capital LLC Reduces Stake in The Hershey Company (NYSE:HSY)

Curi RMB Capital LLC cut its holdings in shares of The Hershey Company (NYSE:HSY) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,404 shares of the company’s stock after selling 367 shares during the period. Curi RMB Capital LLC’s holdings in Hershey were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Hershey during the 3rd quarter valued at $25,000. Capital Advisors Ltd. LLC increased its position in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. raised its stake 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 buying an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Hershey in the second quarter worth about $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey during the 1st quarter valued at approximately $35,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $170.92 on Friday. The stock’s 50 day simple moving average is $187.31 and its 200 day simple moving average is $191.81. 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 Hershey Company has a 12-month low of $170.58 and a 12-month high of $211.92. The stock has a market capitalization of $34.58 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 4.42 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

HSY has been the subject of several research reports. Bank of America decreased their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and dropped their target price for the company from $226.00 to $209.00 in a report on Monday, October 7th. Redburn Atlantic started coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $189.33.

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.