The Hershey Company (NYSE:HSY) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in The Hershey Company (NYSE:HSY) by 18.3% in the third quarter, HoldingsChannel.com reports. The firm owned 6,470 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Hershey were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares during the period. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after purchasing an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. grew its position 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 purchasing an additional 147,215 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after purchasing an additional 139,831 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Up 0.2 %

Shares of Hershey stock opened at $174.80 on Friday. The stock has a 50 day moving average of $181.00 and a 200 day moving average of $189.22. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $35.37 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.30 and a beta of 0.37. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HSY shares. Royal Bank of Canada lowered their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group lowered their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. UBS Group cut Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Piper Sandler raised their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.