Prudential Financial Inc. reduced its stake in shares of The Hershey Company (NYSE:HSY) by 19.2% in the first quarter, HoldingsChannel.com reports. The firm owned 160,468 shares of the company’s stock after selling 38,175 shares during the period. Prudential Financial Inc.’s holdings in The Hershey were worth $15,880,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HSY. Franklin Resources Inc. lifted its stake in The Hershey by 33.6% in the fourth quarter. Franklin Resources Inc. now owns 52,478 shares of the company’s stock worth $5,956,000 after acquiring an additional 13,194 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in The Hershey by 18.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 59,487 shares of the company’s stock worth $6,752,000 after acquiring an additional 9,423 shares during the period. Centaurus Financial Inc. purchased a new stake in The Hershey in the fourth quarter worth about $423,000. We Are One Seven LLC purchased a new stake in The Hershey in the fourth quarter worth about $774,000. Finally, MANA Advisors LLC purchased a new stake in The Hershey in the fourth quarter worth about $451,000. 54.00% of the stock is owned by institutional investors.
HSY stock opened at $91.65 on Wednesday. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.32 and a beta of 0.34. The Hershey Company has a one year low of $89.10 and a one year high of $116.49. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 2.08.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 25th will be given a dividend of $0.656 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, May 24th. The Hershey’s payout ratio is 55.04%.
A number of analysts recently weighed in on HSY shares. Piper Jaffray Companies started coverage on shares of The Hershey in a research note on Thursday, April 12th. They issued a “neutral” rating and a $99.00 price objective for the company. Barclays lowered their price objective on shares of The Hershey from $107.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, April 27th. Susquehanna Bancshares lowered their price objective on shares of The Hershey from $110.00 to $103.00 and set a “neutral” rating for the company in a research note on Monday, April 23rd. ValuEngine lowered shares of The Hershey from a “hold” rating to a “sell” rating in a research note on Thursday, April 19th. Finally, Zacks Investment Research lowered shares of The Hershey from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The Hershey has a consensus rating of “Hold” and a consensus price target of $103.71.
About The Hershey
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSY).
Receive News & Ratings for The Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hershey and related companies with MarketBeat.com's FREE daily email newsletter.