Massachusetts Financial Services Co. MA Grows Holdings in The Hershey Company (NYSE:HSY)

Massachusetts Financial Services Co. MA boosted its position in The Hershey Company (NYSE:HSY) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,565 shares of the company’s stock after buying an additional 139,831 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.29% of Hershey worth $112,491,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HSY. Integrated Investment Consultants LLC acquired a new position in shares of Hershey in the third quarter worth about $2,134,000. Landscape Capital Management L.L.C. raised its position in shares of Hershey by 8.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 6,691 shares of the company’s stock valued at $1,283,000 after purchasing an additional 533 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Hershey by 73.6% during the 3rd quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock valued at $2,159,000 after buying an additional 4,772 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Hershey by 1.1% during the third quarter. Moran Wealth Management LLC now owns 88,464 shares of the company’s stock worth $16,966,000 after buying an additional 979 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new stake in shares of Hershey in the third quarter worth $1,852,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HSY shares. Barclays dropped their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Piper Sandler upped their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Bank of America decreased their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Redburn Atlantic started coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Trading Down 0.1 %

Shares of HSY stock opened at $174.81 on Friday. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The firm 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 stock has a fifty day moving average of $184.51 and a two-hundred day moving average of $190.96. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Dividend Announcement

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