Tokio Marine Asset Management Co. Ltd. Purchases 430 Shares of The Hershey Company (NYSE:HSY)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in The Hershey Company (NYSE:HSY) by 11.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,230 shares of the company’s stock after purchasing an additional 430 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Hershey were worth $811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSY. Vanguard Group Inc. increased its stake in Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. International Assets Investment Management LLC lifted its holdings in Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after buying an additional 571,766 shares in the last quarter. Confluence Investment Management LLC boosted its position in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Hershey during the second quarter worth approximately $82,123,000. Finally, Principal Financial Group Inc. raised its stake 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 acquiring an additional 389,404 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Piper Sandler raised their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Bank of America reduced their price target 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. Finally, Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $189.33.

Hershey Stock Down 4.5 %

Shares of NYSE HSY opened at $170.92 on Friday. The stock has a market cap of $34.58 billion, a PE ratio of 19.69, a P/E/G ratio of 4.42 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12-month low of $170.58 and a 12-month high of $211.92. The company has a 50-day moving average of $187.89 and a 200 day moving average of $191.96.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. Hershey’s payout ratio is 63.13%.

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.