The Hershey Company (NYSE:HSY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in The Hershey Company (NYSE:HSY) by 66.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 972,836 shares of the company’s stock after purchasing an additional 389,404 shares during the quarter. Principal Financial Group Inc.’s holdings in Hershey were worth $186,571,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Hershey in the third quarter valued at $25,000. Capital Advisors Ltd. LLC lifted its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Hershey in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey during the third quarter worth approximately $48,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Trading Down 2.0 %

NYSE HSY opened at $168.94 on Friday. The stock has a market capitalization of $34.19 billion, a P/E ratio of 19.46, 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 firm has a 50-day moving average price of $178.88 and a 200 day moving average price of $187.82. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $185.17.

About Hershey

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.