WCM Investment Management LLC Increases Holdings in The Hershey Company (NYSE:HSY)

WCM Investment Management LLC boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 311.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,505 shares of the company’s stock after purchasing an additional 4,925 shares during the period. WCM Investment Management LLC’s holdings in Hershey were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of HSY. Vanguard Group Inc. grew its stake in Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC lifted 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 valued at $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Hershey in the second quarter valued at approximately $82,123,000. Finally, Principal Financial Group Inc. boosted its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HSY shares. Barclays dropped their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $226.00 to $209.00 in a report on Monday, October 7th. Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Redburn Atlantic assumed coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Performance

Shares of NYSE HSY opened at $181.50 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.48 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $188.88 and a 200 day simple moving average of $192.13. The Hershey Company has a one year low of $171.67 and a one year high of $211.92. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 4.22 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

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.