Manning & Napier Advisors LLC cut its stake in The Hershey Company (NYSE:HSY – Free Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,906 shares of the company’s stock after selling 4,228 shares during the period. Manning & Napier Advisors LLC’s holdings in Hershey were worth $10,822,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the period. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp lifted its position in Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after buying an additional 139,831 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares during the period. 57.96% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on HSY shares. Piper Sandler lowered their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen lowered their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Finally, Stifel Nicolaus dropped their target price on Hershey from $180.00 to $170.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $171.79.
Hershey Stock Down 0.2 %
Shares of Hershey stock opened at $149.41 on Thursday. 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 Hershey Company has a twelve month low of $147.60 and a twelve month high of $211.92. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The company’s 50 day moving average is $168.39 and its 200 day moving average is $182.73.
Hershey Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.67%. Hershey’s dividend payout ratio (DPR) is currently 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.
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