Principal Financial Group Inc. Buys 389,404 Shares of The Hershey Company (NYSE:HSY)

Principal Financial Group Inc. boosted its stake in shares of The Hershey Company (NYSE:HSY) by 66.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 972,836 shares of the company’s stock after buying an additional 389,404 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Hershey worth $186,571,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Hershey by 179.4% in the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after buying an additional 4,468 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Hershey by 239.2% during the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after buying an additional 15,538 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Hershey by 2.2% during the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after buying an additional 1,168 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock worth $2,986,000 after acquiring an additional 2,635 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and cut their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $191.61.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Hershey Stock Performance

Shares of Hershey stock opened at $172.89 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average is $189.89 and its two-hundred day moving average is $192.34. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92. The company has a market capitalization of $34.97 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 4.14 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.17%. Hershey’s dividend payout ratio is presently 60.89%.

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.