QRG Capital Management Inc. Grows Stake in The Hershey Company (NYSE:HSY)

QRG Capital Management Inc. increased its holdings in The Hershey Company (NYSE:HSY) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,729 shares of the company’s stock after purchasing an additional 1,329 shares during the period. QRG Capital Management Inc.’s holdings in Hershey were worth $1,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Hershey by 6.5% during the 1st 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 grew 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 valued at $144,743,000 after purchasing an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its position in shares of Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $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.

Analysts Set New Price Targets

A number of analysts have issued reports on HSY shares. Royal Bank of Canada reduced their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America lowered their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $191.61.

Hershey Trading Down 2.2 %

NYSE HSY opened at $172.89 on Friday. The stock has a market cap of $34.97 billion, a PE ratio of 19.21, a PEG ratio of 4.14 and a beta of 0.38. The Hershey Company has a 12 month low of $171.67 and a 12 month high of $211.92. The company’s 50-day moving average price is $189.89 and its 200-day moving average price is $192.34. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Insider Activity

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

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.