Sumitomo Life Insurance Co. Has $519,000 Position in The Hershey Company (NYSE:HSY)

Sumitomo Life Insurance Co. cut its holdings in shares of The Hershey Company (NYSE:HSY) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,067 shares of the company’s stock after selling 103 shares during the period. Sumitomo Life Insurance Co.’s holdings in Hershey were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HSY. International Assets Investment Management LLC lifted its holdings in shares of Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the period. Principal Financial Group Inc. raised its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. State Street Corp lifted its holdings in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 valued at $112,491,000 after buying an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after buying an additional 109,336 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Price Performance

HSY stock opened at $152.00 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The business has a 50-day simple moving average of $167.90 and a two-hundred day simple moving average of $182.50. The company has a market capitalization of $30.76 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The Hershey Company has a 52-week low of $147.60 and a 52-week high of $211.92.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.61%. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Wall Street Analyst Weigh In

HSY has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Citigroup dropped their price target on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research report on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.79.

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.