The Manufacturers Life Insurance Company lowered its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,187 shares of the company's stock after selling 3,546 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Hershey were worth $18,447,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of HSY. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 109,336 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company's stock valued at $144,743,000 after purchasing an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company's stock valued at $143,962,000 after purchasing an additional 147,215 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 139,831 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.
Hershey Price Performance
Shares of NYSE HSY traded up $0.92 during trading hours on Monday, reaching $177.05. 782,434 shares of the stock traded hands, compared to its average volume of 1,694,032. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The company's 50-day simple moving average is $182.20 and its two-hundred day simple moving average is $189.81. The company has a market capitalization of $35.83 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. The Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92.
Hershey Dividend Announcement
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. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.10%. Hershey's dividend payout ratio (DPR) is presently 63.13%.
Analyst Ratings Changes
A number of equities analysts recently commented on HSY shares. Jefferies Financial Group cut their price objective on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a research note on Thursday, October 31st. Bank of America decreased their price target on Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein downgraded Hershey from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $189.33.
Check Out Our Latest Analysis on HSY
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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