National Bank of Canada FI Buys 29,213 Shares of The Hershey Company (NYSE:HSY)

National Bank of Canada FI raised its stake in The Hershey Company (NYSE:HSY) by 39.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,800 shares of the company’s stock after buying an additional 29,213 shares during the period. National Bank of Canada FI owned 0.05% of Hershey worth $19,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Hershey in the second quarter worth about $82,123,000. Principal Financial Group Inc. increased its position in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. State Street Corp raised its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after buying an additional 230,077 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

NYSE:HSY opened at $193.68 on Tuesday. The business’s 50-day moving average is $180.67 and its 200 day moving average is $188.69. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The company has a market capitalization of $39.19 billion, a P/E ratio of 22.31, a P/E/G ratio of 4.18 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm 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 dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HSY. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Royal Bank of Canada decreased their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. 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 report on Monday, November 11th. The Goldman Sachs Group assumed coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Finally, UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $187.94.

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.