Jennison Associates LLC Grows Position in The Hershey Company (NYSE:HSY)

Jennison Associates LLC lifted its position in shares of The Hershey Company (NYSE:HSY) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,820 shares of the company’s stock after purchasing an additional 2,404 shares during the quarter. Jennison Associates LLC’s holdings in Hershey were worth $32,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the 3rd quarter valued at $25,000. Capital Advisors Ltd. LLC boosted its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management bought a new position in shares of Hershey during the second quarter valued at approximately $29,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey during the first quarter valued at approximately $35,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSY has been the topic of several analyst reports. Barclays dropped their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Price Performance

Shares of NYSE HSY opened at $174.86 on Friday. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. 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 firm has a market cap of $35.38 billion, a P/E ratio of 20.14, a P/E/G ratio of 4.08 and a beta of 0.38. The business’s 50 day moving average price is $185.03 and its 200 day moving average price is $191.16.

Hershey Announces Dividend

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 paid a $1.37 dividend. 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%.

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.