The Hershey Company (NYSE:HSY) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,108 shares of the company's stock after selling 3,712 shares during the quarter. Jennison Associates LLC owned about 0.08% of Hershey worth $27,961,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HSY. International Assets Investment Management LLC boosted its stake in shares of Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock valued at $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. State Street Corp grew its holdings in shares of Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company's stock valued at $112,491,000 after buying an additional 139,831 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company's stock valued at $841,476,000 after buying an additional 109,336 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Up 0.8 %

Shares of HSY stock traded up $1.22 during trading hours on Wednesday, reaching $145.96. The company had a trading volume of 3,891,234 shares, compared to its average volume of 1,998,401. The company has a market capitalization of $29.53 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 4.30 and a beta of 0.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The stock's fifty day simple moving average is $165.80 and its 200 day simple moving average is $181.22.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.75%. Hershey's dividend payout ratio is currently 63.13%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus lowered their price objective on Hershey from $180.00 to $170.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Bernstein Bank decreased their price target on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research note on Wednesday. Mizuho dropped their price objective on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday. Finally, Bank of America reissued a "neutral" rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Seven equities research 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 stock currently has a consensus rating of "Hold" and an average target price of $167.10.

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.