Asset Management One Co. Ltd. Sells 1,094 Shares of The Hershey Company (NYSE:HSY)

Asset Management One Co. Ltd. decreased its stake in shares of The Hershey Company (NYSE:HSY) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,029 shares of the company’s stock after selling 1,094 shares during the period. Asset Management One Co. Ltd.’s holdings in Hershey were worth $15,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. Vanguard Group Inc. lifted its position in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. International Assets Investment Management LLC lifted its position in Hershey by 30,461.7% during the third 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. Confluence Investment Management LLC lifted its position in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after purchasing an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Hershey during the second quarter valued at approximately $82,123,000. Finally, Mercer Global Advisors Inc. ADV lifted its position in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after purchasing an additional 230,077 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Hershey Stock Performance

Shares of NYSE HSY opened at $180.17 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The company has a market cap of $36.45 billion, a P/E ratio of 20.02, a P/E/G ratio of 4.13 and a beta of 0.38. The firm’s fifty day moving average is $190.19 and its two-hundred day moving average is $192.45. The Hershey Company has a 52-week low of $176.78 and a 52-week high of $211.92.

Analysts Set New Price Targets

HSY has been the subject of a number of research reports. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Piper Sandler reduced their target price on shares of Hershey from $179.00 to $165.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the company from $226.00 to $209.00 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, Hershey currently has a consensus rating of “Hold” and an average price target of $191.61.

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.