The Hershey Company (NYSE:HSY) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,267 shares of the company’s stock after buying an additional 1,241 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hershey were worth $9,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. Charles Schwab Investment Management Inc. lifted its stake in shares of Hershey by 2.6% during the third 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. raised its stake in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares during the period. Envestnet Asset Management Inc. lifted its position in Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after purchasing an additional 139,831 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSY has been the subject of a number of research reports. Redburn Atlantic started coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Stifel Nicolaus reduced their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada dropped their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Piper Sandler raised their target price on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Barclays decreased their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Up 1.2 %

Hershey stock opened at $176.13 on Monday. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The stock has a market capitalization of $35.64 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The business has a 50 day simple moving average of $182.20 and a 200-day simple moving average of $189.81.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

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.