Dai ichi Life Insurance Company Ltd Has $5.74 Million Stake in The Hershey Company (NYSE:HSY)

Dai ichi Life Insurance Company Ltd trimmed its position in The Hershey Company (NYSE:HSY) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 29,936 shares of the company’s stock after selling 197 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Hershey were worth $5,741,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. Burns J W & Co. Inc. NY boosted 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 buying an additional 58 shares during the last quarter. Wesbanco Bank Inc. boosted its position in Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock valued at $308,000 after buying an additional 59 shares during the last quarter. Brighton Jones LLC boosted 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 buying an additional 59 shares during the last quarter. Finally, Valley Brook Capital Group Inc. boosted its position in Hershey by 1.5% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after buying an additional 61 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on HSY shares. Redburn Atlantic assumed coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Bank of America reduced their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $189.33.

Hershey Stock Performance

HSY opened at $173.29 on Wednesday. The business’s 50-day moving average price is $183.48 and its two-hundred day moving average price is $190.51. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 4.21 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

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.