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Board of the Pension Protection Fund Purchases Shares of 4,500 The Hershey Company (NYSE:HSY)

Hershey logo with Consumer Staples background

Board of the Pension Protection Fund purchased a new position in The Hershey Company (NYSE:HSY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,500 shares of the company's stock, valued at approximately $762,000.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Hershey by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 34,942 shares of the company's stock valued at $6,423,000 after buying an additional 709 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Hershey by 1.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,320 shares of the company's stock valued at $2,081,000 after purchasing an additional 201 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company's stock worth $143,962,000 after purchasing an additional 147,215 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Hershey by 10.4% in the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company's stock worth $119,000 after purchasing an additional 61 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Hershey in the second quarter valued at approximately $82,123,000. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein cut Hershey from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Bank of America reissued a "neutral" rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Hershey from $188.00 to $180.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Finally, Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, October 25th. Six equities research 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.com, the company has an average rating of "Hold" and a consensus target price of $182.21.

Check Out Our Latest Research Report on HSY

Hershey Price Performance

Shares of HSY traded down $3.56 during midday trading on Wednesday, reaching $151.75. The stock had a trading volume of 3,583,936 shares, compared to its average volume of 2,093,853. 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 company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The company's 50-day moving average is $173.19 and its 200 day moving average is $185.04. The Hershey Company has a 12-month low of $150.31 and a 12-month high of $211.92.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's payout ratio is currently 63.13%.

Hershey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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