Schroder Investment Management Group lowered its position in Hershey Co (NYSE:HSY) by 20.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,899,419 shares of the company’s stock after selling 474,934 shares during the period. Schroder Investment Management Group owned about 0.91% of Hershey worth $193,741,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of HSY. Amalgamated Bank raised its position in shares of Hershey by 8.5% in the second quarter. Amalgamated Bank now owns 21,560 shares of the company’s stock worth $2,006,000 after acquiring an additional 1,686 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Hershey in the second quarter worth about $335,000. Creative Planning raised its position in shares of Hershey by 85.6% in the second quarter. Creative Planning now owns 23,075 shares of the company’s stock worth $2,147,000 after acquiring an additional 10,641 shares during the period. Unigestion Holding SA acquired a new position in shares of Hershey in the second quarter worth about $3,881,000. Finally, Perella Weinberg Partners Capital Management LP acquired a new position in shares of Hershey in the second quarter worth about $4,065,000. Institutional investors and hedge funds own 52.79% of the company’s stock.
NYSE HSY traded up $0.11 during trading hours on Friday, hitting $106.27. 4,966 shares of the company’s stock traded hands, compared to its average volume of 1,479,217. Hershey Co has a 52-week low of $89.10 and a 52-week high of $115.82. The stock has a market cap of $22.26 billion, a PE ratio of 22.33, a P/E/G ratio of 2.33 and a beta of 0.17. The company has a current ratio of 1.01, a quick ratio of 0.69 and a debt-to-equity ratio of 2.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.722 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.89 annualized dividend and a yield of 2.72%. Hershey’s dividend payout ratio is presently 60.71%.
A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Hershey from $93.00 to $98.00 and gave the stock an “underweight” rating in a research note on Friday, July 27th. Susquehanna Bancshares boosted their target price on shares of Hershey from $109.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 23rd. Piper Jaffray Companies boosted their target price on shares of Hershey from $97.00 to $100.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. Credit Suisse Group set a $85.00 target price on shares of Hershey and gave the stock a “sell” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research raised shares of Hershey from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Monday, October 8th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $103.81.
In related news, CFO Patricia A. Little sold 17,589 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $103.00, for a total transaction of $1,811,667.00. Following the completion of the sale, the chief financial officer now owns 37,086 shares of the company’s stock, valued at approximately $3,819,858. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $102.82, for a total transaction of $154,230.00. Following the sale, the insider now directly owns 172,394 shares of the company’s stock, valued at approximately $17,725,551.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,881 shares of company stock valued at $9,579,554. 0.92% of the stock is owned by corporate insiders.
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Hershey Company Profile
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.
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