Assenagon Asset Management S.A. lessened its position in The Hershey Company (NYSE:HSY – Free Report) by 93.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,132 shares of the company’s stock after selling 46,203 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Hershey were worth $530,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in HSY. Public Sector Pension Investment Board boosted its holdings in Hershey by 64.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,470 shares of the company’s stock valued at $1,006,000 after acquiring an additional 2,140 shares during the period. AXA S.A. lifted its position in shares of Hershey by 7.6% during the second quarter. AXA S.A. now owns 46,303 shares of the company’s stock worth $8,512,000 after purchasing an additional 3,290 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Hershey by 29.4% during the second quarter. Daymark Wealth Partners LLC now owns 2,746 shares of the company’s stock valued at $505,000 after purchasing an additional 624 shares during the period. MBB Public Markets I LLC bought a new position in shares of Hershey in the second quarter worth about $1,955,000. Finally, Scientech Research LLC increased its stake in Hershey by 60.6% in the 2nd quarter. Scientech Research LLC now owns 7,077 shares of the company’s stock worth $1,301,000 after buying an additional 2,671 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on HSY shares. Stifel Nicolaus reduced their target price on shares of Hershey from $180.00 to $170.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler decreased their target price on Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Citigroup dropped their price target on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Finally, UBS Group dropped their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average price target of $171.79.
Hershey Stock Performance
Shares of NYSE HSY opened at $150.54 on Friday. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 4.28 and a beta of 0.38. The Hershey Company has a 12 month low of $147.60 and a 12 month high of $211.92. The company has a 50 day simple moving average of $169.13 and a two-hundred day simple moving average of $183.26. The company has a current ratio of 0.85, a quick ratio of 0.54 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. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is 63.13%.
Hershey Profile
(Free Report)
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…