Jennison Associates LLC Has $32.38 Million Holdings in The Hershey Company (NYSE:HSY)

Jennison Associates LLC grew its holdings in The Hershey Company (NYSE:HSY) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,820 shares of the company’s stock after buying an additional 2,404 shares during the period. Jennison Associates LLC owned 0.08% of Hershey worth $32,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in Hershey in the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its stake in shares of 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 period. GHP Investment Advisors Inc. lifted its holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new stake in Hershey in the 2nd quarter valued at $29,000. Finally, Crewe Advisors LLC acquired a new position in Hershey in the 1st quarter valued at $35,000. 57.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HSY has been the subject of a number of research reports. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada dropped their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Bank of America dropped their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Jefferies Financial Group reduced their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Five investment 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, the stock has an average rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

Hershey stock opened at $174.86 on Friday. The business has a 50-day simple moving average of $185.03 and a 200 day simple moving average of $191.16. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The stock has a market cap of $35.38 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.08 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

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.