Townsquare Capital LLC Acquires 2,913 Shares of The Hershey Company (NYSE:HSY)

Townsquare Capital LLC increased its holdings in shares of The Hershey Company (NYSE:HSY) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,250 shares of the company’s stock after buying an additional 2,913 shares during the quarter. Townsquare Capital LLC’s holdings in Hershey were worth $7,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Hershey during the third quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new position in Hershey in the 2nd quarter valued at $29,000. Finally, Gradient Investments LLC increased its position in Hershey by 71.9% during the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of HSY opened at $174.09 on Friday. The firm has a 50 day moving average of $182.58 and a 200 day moving average of $190.28. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The company has a market capitalization of $35.23 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 4.21 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

HSY has been the subject of a number of analyst reports. The Goldman Sachs Group began coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Barclays decreased their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.