The Hershey Company (NYSE:HSY) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in shares of The Hershey Company (NYSE:HSY) by 788.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,158 shares of the company’s stock after purchasing an additional 50,724 shares during the period. Mediolanum International Funds Ltd’s holdings in Hershey were worth $9,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after buying an additional 35,688 shares during the last quarter. Principal Financial Group Inc. boosted 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 buying an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after acquiring an additional 29,507 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Hershey stock opened at $149.19 on Friday. 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 firm’s fifty day moving average price is $167.44 and its 200 day moving average price is $182.29. The company has a market capitalization of $30.19 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth 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.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HSY. Barclays dropped their price target on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Mizuho dropped their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Finally, Jefferies Financial Group reduced their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Seven investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $170.05.

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.