Sumitomo Mitsui Trust Group Inc. Has $73.22 Million Stock Position in The Hershey Company (NYSE:HSY)

Sumitomo Mitsui Trust Group Inc. cut its holdings in The Hershey Company (NYSE:HSY) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 381,808 shares of the company’s stock after selling 6,401 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Hershey worth $73,223,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC grew its position in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares in the last quarter. Confluence Investment Management LLC increased its stake in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Hershey in the 2nd quarter valued at $82,123,000. Finally, Principal Financial Group Inc. lifted its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Trading Down 3.1 %

HSY opened at $178.77 on Friday. The Hershey Company has a twelve month low of $171.67 and a twelve month high of $211.92. The company has a fifty day moving average of $188.28 and a 200-day moving average of $192.05. The stock has a market cap of $36.16 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 4.35 and a beta of 0.38. 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. The Goldman Sachs Group initiated coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Bank of America cut their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Argus cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler boosted their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average target price of $189.33.

Hershey Company 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.