The Hershey Company (NYSE:HSY) Position Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in The Hershey Company (NYSE:HSY) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,147 shares of the company’s stock after purchasing an additional 28,063 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Hershey were worth $40,930,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of 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 in the last quarter. Woodstock Corp lifted its stake in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after purchasing an additional 1,780 shares during the last quarter. Elevate Capital Advisors LLC acquired a new position in Hershey in the fourth quarter worth $1,939,000. Ethos Financial Group LLC increased its stake in Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after purchasing an additional 1,483 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after purchasing an additional 45,936 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HSY. Morgan Stanley began coverage on shares of Hershey in a research note on Monday, March 24th. They set an “equal weight” rating and a $183.00 price objective on the stock. TD Cowen lowered their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Bernstein Bank lowered their price target on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $162.50.

Hershey Trading Down 0.4 %

Shares of HSY opened at $169.87 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The stock has a market capitalization of $34.38 billion, a P/E ratio of 15.58, a P/E/G ratio of 5.90 and a beta of 0.32. The business’s 50-day moving average price is $164.03 and its 200 day moving average price is $173.84.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

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.