Principal Financial Group Inc. Acquires 389,404 Shares of The Hershey Company (NYSE:HSY)

Principal Financial Group Inc. lifted its holdings in The Hershey Company (NYSE:HSY) by 66.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 972,836 shares of the company’s stock after acquiring an additional 389,404 shares during the quarter. Principal Financial Group Inc.’s holdings in Hershey were worth $186,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares in the last quarter. Janus Henderson Group PLC grew its stake in Hershey by 6.5% in the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after purchasing an additional 90,329 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after purchasing an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. lifted 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 valued at $143,962,000 after buying an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of 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 in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Down 2.2 %

Hershey stock opened at $172.89 on Friday. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92. The firm has a market cap of $34.97 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 4.14 and a beta of 0.38. The business’s 50-day moving average price is $189.89 and its 200 day moving average price is $192.34. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.17%. Hershey’s dividend payout ratio is currently 60.89%.

Analyst Ratings Changes

Several research firms recently commented on HSY. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $191.61.

Insider Buying and Selling

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 owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

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.