Franklin Resources Inc. Buys 106,450 Shares of The Hershey Company (NYSE:HSY)

Franklin Resources Inc. lifted its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 95.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,055 shares of the company's stock after buying an additional 106,450 shares during the quarter. Franklin Resources Inc. owned about 0.11% of Hershey worth $40,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Hershey in the third quarter worth approximately $25,000. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% in 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 holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after buying an additional 55 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Hershey in the 3rd quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Hershey in the third quarter worth $48,000. Institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

NYSE:HSY traded down $3.49 during mid-day trading on Wednesday, reaching $174.14. The company's stock had a trading volume of 385,959 shares, compared to its average volume of 1,816,941. The firm's fifty day moving average price is $179.54 and its two-hundred day moving average price is $188.06. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The stock has a market cap of $35.24 billion, a P/E ratio of 20.46, a PEG ratio of 4.24 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.15%. Hershey's payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HSY shares. Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Bank of America reiterated a "neutral" rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Sanford C. Bernstein lowered shares of Hershey from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. Finally, Barclays cut their price objective on Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to data from MarketBeat, Hershey presently has an average rating of "Hold" and a consensus price target of $185.17.

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.