Palisade Asset Management LLC Buys 2,600 Shares of The Hershey Company (NYSE:HSY)

Palisade Asset Management LLC boosted its stake in shares of The Hershey Company (NYSE:HSY) by 22.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,425 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Palisade Asset Management LLC’s holdings in Hershey were worth $2,766,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position 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 valued at $841,476,000 after buying an additional 109,336 shares during the last quarter. Janus Henderson Group PLC increased its stake in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares during the period. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hershey by 3.4% in 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. Finally, Envestnet Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 147,215 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Hershey stock opened at $174.81 on Friday. The stock has a 50-day simple moving average of $184.51 and a 200 day simple moving average of $191.01. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 4.19 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.13%. Hershey’s payout ratio is 63.13%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HSY. Deutsche Bank Aktiengesellschaft raised 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. The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada dropped their target price on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Five equities 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.com, Hershey has an average rating of “Hold” and an average price target of $189.33.

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.