Franklin Resources Inc. Has $40.56 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Franklin Resources Inc. increased its position in The Hershey Company (NYSE:HSY) by 95.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,055 shares of the company’s stock after buying an additional 106,450 shares during the quarter. Franklin Resources Inc. owned 0.11% of Hershey worth $40,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of 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 acquiring an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Hershey by 2.6% during 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. Geode Capital Management LLC grew its position in shares of Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after buying an additional 35,688 shares during the last quarter. Principal Financial Group Inc. raised its position 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 worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Hershey by 3.2% in the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after acquiring an additional 29,507 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of HSY opened at $177.61 on Wednesday. The firm has a market capitalization of $35.94 billion, a P/E ratio of 20.46, a P/E/G ratio of 4.24 and a beta of 0.37. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The stock has a 50 day moving average price of $179.54 and a two-hundred day moving average price of $188.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Piper Sandler lifted their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company downgraded Hershey from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $175.00 to $160.00 in a report on Thursday, December 12th. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and an average target price of $185.17.

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.