The Hershey Company (NYSE:HSY) Stake Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in shares of The Hershey Company (NYSE:HSY) by 29.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,715 shares of the company’s stock after acquiring an additional 51,271 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.11% of Hershey worth $43,671,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HSY. Shum Financial Group Inc. bought a new position in shares of Hershey during the third quarter worth about $792,000. Avestar Capital LLC raised its stake in Hershey by 6.0% during the third quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after buying an additional 67 shares in the last quarter. Covington Investment Advisors Inc. lifted its holdings in Hershey by 0.8% during the 3rd quarter. Covington Investment Advisors Inc. now owns 32,591 shares of the company’s stock worth $6,250,000 after buying an additional 250 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Hershey in the 3rd quarter worth approximately $5,553,000. Finally, Mirabella Financial Services LLP bought a new stake in shares of Hershey in the 3rd quarter valued at approximately $1,152,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of NYSE HSY opened at $174.09 on Friday. The firm’s 50-day simple moving average is $182.58 and its 200 day simple moving average is $190.28. The stock has a market cap of $35.23 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.21 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 fifty-two week low of $168.16 and a fifty-two week high of $211.92.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America decreased their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Jefferies Financial Group dropped their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Barclays decreased their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $230.00 to $205.00 in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.