BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Stock Position in The Hershey Company (NYSE:HSY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its position in shares of The Hershey Company (NYSE:HSY) by 32.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,294 shares of the company’s stock after selling 39,388 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Hershey were worth $15,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. Janus Henderson Group PLC lifted its holdings 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 purchasing an additional 90,329 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 25,780 shares during the period. Envestnet Asset Management Inc. grew its stake in Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after buying an additional 147,215 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

HSY has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Barclays decreased their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Bank of America lowered their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. 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 note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Trading Down 0.1 %

HSY stock opened at $174.81 on Friday. The company has a market capitalization of $35.37 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The Hershey Company has a one year low of $168.16 and a one year high of $211.92. The company’s 50 day moving average price is $184.51 and its two-hundred day moving average price is $190.96.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

About Hershey

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.