Principal Financial Group Inc. Has $186.57 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Principal Financial Group Inc. lifted its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 66.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 972,836 shares of the company's stock after purchasing an additional 389,404 shares during the period. Principal Financial Group Inc. owned 0.48% of Hershey worth $186,571,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Hershey during the third quarter worth approximately $1,337,000. HighTower Advisors LLC increased its holdings in shares of Hershey by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company's stock worth $23,052,000 after acquiring an additional 45,936 shares during the last quarter. LPL Financial LLC raised its stake in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company's stock valued at $58,951,000 after acquiring an additional 29,246 shares during the period. Soltis Investment Advisors LLC lifted its holdings in Hershey by 53.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 44,339 shares of the company's stock valued at $8,503,000 after purchasing an additional 15,497 shares during the last quarter. Finally, MAI Capital Management boosted its position in Hershey by 11.6% during the third quarter. MAI Capital Management now owns 123,160 shares of the company's stock worth $23,620,000 after purchasing an additional 12,832 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Price Performance

NYSE:HSY traded up $1.32 during trading hours on Friday, hitting $170.26. The company's stock had a trading volume of 2,534,858 shares, compared to its average volume of 1,826,420. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a fifty day simple moving average of $178.88 and a 200-day simple moving average of $187.82. The company has a market capitalization of $34.45 billion, a P/E ratio of 19.62, a PEG ratio of 4.24 and a beta of 0.37.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's dividend payout ratio (DPR) is presently 63.13%.

Wall Street Analyst Weigh In

HSY has been the topic of several research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. 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. Sanford C. Bernstein cut Hershey from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on Hershey from $188.00 to $180.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Finally, Mizuho dropped their price target on Hershey from $200.00 to $180.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.