MetLife Investment Management LLC Sells 1,037 Shares of The Hershey Company (NYSE:HSY)

MetLife Investment Management LLC lessened its stake in shares of The Hershey Company (NYSE:HSY) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,283 shares of the company’s stock after selling 1,037 shares during the quarter. MetLife Investment Management LLC’s holdings in Hershey were worth $7,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hershey by 66.7% during the third 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 during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after acquiring an additional 139,831 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $176.23 on Friday. The Hershey Company has a 1 year low of $168.16 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The business has a fifty day simple moving average of $182.20 and a two-hundred day simple moving average of $190.05. The company has a market capitalization of $35.66 billion, a P/E ratio of 20.30, a P/E/G ratio of 4.17 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

A number of analysts have commented on HSY shares. The Goldman Sachs Group began coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada dropped their price objective 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. Bank of America reduced their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey 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.