Cassaday & Co Wealth Management LLC Purchases 234 Shares of The Hershey Company (NYSE:HSY)

Cassaday & Co Wealth Management LLC grew its position in The Hershey Company (NYSE:HSY) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,856 shares of the company’s stock after acquiring an additional 234 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Hershey were worth $739,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. LPL Financial LLC raised its position in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC raised its position in Hershey by 179.4% in the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock worth $2,986,000 after purchasing an additional 2,635 shares during the last quarter. JLB & Associates Inc. raised its position in Hershey by 53.5% in the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock worth $12,414,000 after purchasing an additional 22,562 shares during the last quarter. Finally, Oak Harvest Investment Services raised its position in Hershey by 10.8% in the 3rd quarter. Oak Harvest Investment Services now owns 38,225 shares of the company’s stock worth $7,331,000 after purchasing an additional 3,732 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HSY shares. Royal Bank of Canada dropped their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Piper Sandler boosted their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $189.33.

Hershey Price Performance

Shares of HSY stock opened at $170.92 on Monday. The Hershey Company has a 12-month low of $170.58 and a 12-month high of $211.92. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38. 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 firm has a fifty day moving average of $187.31 and a 200-day moving average of $191.78.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is presently 63.13%.

Hershey 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.