Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Hershey Co (NYSE:HSY) by 58.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,435 shares of the company’s stock after selling 181,075 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Hershey worth $12,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in HSY. FMR LLC raised its position in shares of Hershey by 42.5% during the second quarter. FMR LLC now owns 5,089,056 shares of the company’s stock valued at $473,587,000 after buying an additional 1,518,053 shares during the last quarter. BlackRock Inc. raised its position in shares of Hershey by 11.5% during the third quarter. BlackRock Inc. now owns 12,694,041 shares of the company’s stock valued at $1,294,795,000 after buying an additional 1,311,392 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Hershey by 51.2% during the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock valued at $203,829,000 after buying an additional 676,300 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hershey by 78.9% during the third quarter. American Century Companies Inc. now owns 1,316,025 shares of the company’s stock valued at $134,235,000 after buying an additional 580,206 shares during the last quarter. Finally, Mawer Investment Management Ltd. bought a new stake in shares of Hershey during the second quarter valued at approximately $41,355,000. Hedge funds and other institutional investors own 52.18% of the company’s stock.
HSY stock opened at $108.93 on Tuesday. Hershey Co has a fifty-two week low of $89.10 and a fifty-two week high of $115.82. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $22.71 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.37 and a beta of 0.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be issued a $0.722 dividend. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, November 20th. Hershey’s dividend payout ratio (DPR) is presently 60.71%.
Several research firms have recently issued reports on HSY. Piper Jaffray Companies set a $100.00 price objective on shares of Hershey and gave the company a “hold” rating in a research report on Wednesday, August 29th. ValuEngine upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research cut shares of Hershey from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Susquehanna Bancshares lifted their price objective on shares of Hershey from $109.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, October 23rd. Finally, Credit Suisse Group set a $85.00 price objective on shares of Hershey and gave the company a “sell” rating in a research report on Wednesday, August 29th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Hershey has an average rating of “Hold” and an average price target of $103.81.
In other Hershey news, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of Hershey stock in a transaction on Monday, October 29th. The shares were sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the completion of the transaction, the insider now directly owns 102,330 shares of the company’s stock, valued at $10,846,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $107.86, for a total transaction of $161,790.00. Following the transaction, the insider now directly owns 169,394 shares of the company’s stock, valued at $18,270,836.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,881 shares of company stock valued at $9,579,554. 0.87% of the stock is currently owned by insiders.
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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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