Principal Financial Group Inc. reduced its position in shares of Hershey Company (The) (NYSE:HSY – Free Report) by 14.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 197,503 shares of the company’s stock after selling 33,639 shares during the quarter. Principal Financial Group Inc.’s holdings in Hershey were worth $41,059,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its holdings in Hershey by 5.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,560 shares of the company’s stock valued at $324,000 after purchasing an additional 84 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Hershey by 9.7% during the 1st quarter. Applied Finance Capital Management LLC now owns 5,236 shares of the company’s stock worth $1,089,000 after buying an additional 464 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Hershey by 235.3% during the 1st quarter. Procyon Advisors LLC now owns 5,706 shares of the company’s stock worth $1,186,000 after buying an additional 4,004 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Hershey during the 1st quarter worth approximately $113,000. Finally, Carnegie Investment Counsel purchased a new stake in shares of Hershey during the 1st quarter valued at approximately $205,000. 57.96% of the stock is owned by hedge funds and other institutional investors.
Hershey Stock Down 1.8%
Shares of NYSE HSY opened at $171.50 on Friday. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.03 and a beta of 0.11. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a 52-week low of $161.43 and a 52-week high of $239.48. The business’s 50 day moving average is $182.21 and its two-hundred day moving average is $197.13.
Hershey Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a dividend of $1.452 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.4%. Hershey’s dividend payout ratio is presently 108.19%.
Insider Buying and Selling
In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the completion of the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at approximately $9,485,753.85. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.
Analysts Set New Price Targets
HSY has been the topic of a number of recent analyst reports. Zacks Research cut Hershey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wells Fargo & Company cut their target price on Hershey from $220.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Piper Sandler reduced their target price on Hershey from $249.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. UBS Group decreased their price target on Hershey from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Hershey presently has a consensus rating of “Hold” and a consensus price target of $212.56.
Read Our Latest Report on Hershey
Hershey Profile
The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.
Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.
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