Intech Investment Management LLC Purchases 4,772 Shares of The Hershey Company (NYSE:HSY)

Intech Investment Management LLC increased its holdings in shares of The Hershey Company (NYSE:HSY) by 73.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,257 shares of the company’s stock after buying an additional 4,772 shares during the quarter. Intech Investment Management LLC’s holdings in Hershey were worth $2,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after purchasing an additional 90,329 shares during the period. Principal Financial Group Inc. lifted its stake in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after buying an additional 25,780 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after buying an additional 147,215 shares during the period. Finally, Confluence Investment Management LLC increased its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Down 0.1 %

HSY stock opened at $174.81 on Monday. The business’s 50 day simple moving average is $184.51 and its 200 day simple moving average is $190.90. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The firm has a market capitalization of $35.37 billion, a PE ratio of 20.14, a PEG ratio of 4.19 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.13%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada dropped their target price on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.33.

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.