Geode Capital Management LLC raised its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,753,751 shares of the company's stock after buying an additional 35,688 shares during the period. Geode Capital Management LLC owned about 1.86% of Hershey worth $717,606,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company's stock valued at $1,411,000 after purchasing an additional 58 shares in the last quarter. Brighton Jones LLC raised its position in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company's stock valued at $484,000 after purchasing an additional 59 shares in the last quarter. Valley Brook Capital Group Inc. grew its position in shares of Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company's stock worth $748,000 after buying an additional 61 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Hershey by 10.4% during the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company's stock worth $119,000 after buying an additional 61 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have commented on HSY shares. Argus cut shares of Hershey from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. UBS Group lowered Hershey from a "buy" rating to a "neutral" rating and dropped their target price for the company from $226.00 to $209.00 in a report on Monday, October 7th. Jefferies Financial Group dropped their price objective on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a report on Thursday, October 31st. Mizuho decreased their target price on Hershey from $200.00 to $180.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Sanford C. Bernstein cut shares of Hershey from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to MarketBeat, Hershey has a consensus rating of "Hold" and an average price target of $185.17.
Read Our Latest Research Report on HSY
Hershey Stock Performance
Shares of NYSE:HSY traded up $6.95 during midday trading on Thursday, hitting $183.95. The stock had a trading volume of 3,726,569 shares, compared to its average volume of 1,820,560. The company has a market capitalization of $37.22 billion, a PE ratio of 20.71, a P/E/G ratio of 4.18 and a beta of 0.37. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The stock has a 50 day moving average price of $180.25 and a two-hundred day moving average price of $188.54. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio (DPR) is 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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