Janus Henderson Group PLC lowered its stake in The Hershey Company (NYSE:HSY - Free Report) by 86.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,837 shares of the company's stock after selling 1,338,001 shares during the period. Janus Henderson Group PLC owned approximately 0.10% of Hershey worth $38,516,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Hershey in the second quarter valued at about $82,123,000. Principal Financial Group Inc. grew its position in Hershey by 66.7% in the third 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 last quarter. Mercer Global Advisors Inc. ADV raised its stake in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company's stock worth $45,837,000 after acquiring an additional 230,077 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company's stock worth $143,962,000 after acquiring an additional 147,215 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.
Wall Street Analyst Weigh In
HSY has been the subject of a number of research reports. Redburn Atlantic initiated coverage on Hershey in a research note on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 price target for the company. Royal Bank of Canada dropped their target price on 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 target on Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Finally, Sanford C. Bernstein lowered shares of Hershey from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. 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 data from MarketBeat.com, Hershey currently has an average rating of "Hold" and an average target price of $189.33.
Get Our Latest Report on Hershey
Hershey Stock Up 0.1 %
NYSE HSY traded up $0.20 on Friday, hitting $174.70. 2,332,272 shares of the company were exchanged, compared to its average volume of 2,182,235. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. 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 cap of $35.35 billion, a PE ratio of 20.13, a PEG ratio of 4.26 and a beta of 0.37. The stock has a fifty day moving average of $180.63 and a 200-day moving average of $188.86.
Hershey Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 3.14%. The ex-dividend date of this dividend is Monday, November 18th. Hershey's payout ratio is 63.13%.
About Hershey
(
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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