Freedom Investment Management Inc. Acquires 117 Shares of The Hershey Company (NYSE:HSY)

Freedom Investment Management Inc. boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,275 shares of the company’s stock after purchasing an additional 117 shares during the period. Freedom Investment Management Inc.’s holdings in Hershey were worth $820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after acquiring an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after acquiring an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

Shares of Hershey stock opened at $174.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $182.58 and a two-hundred day moving average price of $190.28. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The company has a market cap of $35.23 billion, a P/E ratio of 20.06, a PEG ratio of 4.21 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. Hershey’s payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

HSY has been the subject of a number of research reports. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Bank of America dropped their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus decreased their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $189.33.

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.