Synovus Financial Corp raised its position in Hershey Co (NYSE:HSY) by 6.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,219 shares of the company’s stock after buying an additional 135 shares during the period. Synovus Financial Corp’s holdings in Hershey were worth $343,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management N.V. grew its position in shares of Hershey by 145.7% in the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock valued at $319,972,000 after purchasing an additional 1,612,100 shares during the period. Renaissance Technologies LLC grew its position in shares of Hershey by 60.0% in the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock valued at $568,363,000 after purchasing an additional 1,589,800 shares during the period. Nuveen Asset Management LLC grew its position in shares of Hershey by 34,749.1% in the second quarter. Nuveen Asset Management LLC now owns 1,015,850 shares of the company’s stock valued at $136,154,000 after purchasing an additional 1,012,935 shares during the period. Vanguard Group Inc. grew its position in shares of Hershey by 4.8% in the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock valued at $1,578,920,000 after purchasing an additional 537,363 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Hershey by 236.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock valued at $92,368,000 after purchasing an additional 484,496 shares during the period. 53.50% of the stock is owned by institutional investors.
HSY traded down $0.35 on Friday, reaching $140.97. 453,727 shares of the company’s stock were exchanged, compared to its average volume of 1,204,769. The stock has a market cap of $29.35 billion, a PE ratio of 26.30, a P/E/G ratio of 3.34 and a beta of 0.06. Hershey Co has a twelve month low of $100.80 and a twelve month high of $162.20. The stock’s fifty day moving average price is $150.66 and its 200-day moving average price is $143.55. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.773 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.09 dividend on an annualized basis and a yield of 2.19%. Hershey’s payout ratio is presently 57.65%.
Several brokerages have recently issued reports on HSY. Bank of America set a $165.00 target price on shares of Hershey and gave the company a “buy” rating in a research report on Friday, October 25th. Credit Suisse Group lifted their target price on shares of Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada began coverage on shares of Hershey in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 target price on the stock. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 target price on the stock. in a research report on Thursday, September 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their target price on shares of Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Hershey currently has a consensus rating of “Hold” and an average price target of $145.57.
In other Hershey news, SVP Kevin R. Walling sold 17,745 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total value of $2,736,811.35. Following the transaction, the senior vice president now directly owns 44,599 shares in the company, valued at approximately $6,878,503.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michele Buck sold 3,832 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $152.04, for a total transaction of $582,617.28. Following the completion of the transaction, the chief executive officer now owns 157,761 shares in the company, valued at $23,985,982.44. The disclosure for this sale can be found here. Insiders have sold 33,009 shares of company stock worth $5,103,372 over the last 90 days. 0.41% of the stock is currently owned by company insiders.
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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