Dorsey & Whitney Trust CO LLC acquired a new position in The Hershey Company (NYSE:HSY – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,312 shares of the company’s stock, valued at approximately $263,000.
Other large investors also recently bought and sold shares of the company. Archer Investment Corp increased its holdings in Hershey by 139.3% in the 2nd quarter. Archer Investment Corp now owns 1,077 shares of the company’s stock worth $269,000 after buying an additional 627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Hershey by 1,525.5% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,386 shares of the company’s stock valued at $9,835,000 after purchasing an additional 36,963 shares during the period. Rheos Capital Works Inc. grew its stake in shares of Hershey by 21.4% during the 3rd quarter. Rheos Capital Works Inc. now owns 152,900 shares of the company’s stock valued at $30,592,000 after acquiring an additional 27,000 shares during the period. Bank of Montreal Can bought a new position in shares of Hershey during the 2nd quarter valued at approximately $79,782,000. Finally, National Bank of Canada FI grew its stake in shares of Hershey by 396.6% during the 3rd quarter. National Bank of Canada FI now owns 173,865 shares of the company’s stock valued at $34,599,000 after acquiring an additional 138,857 shares during the period. 56.47% of the stock is currently owned by institutional investors.
Hershey Trading Down 0.8 %
Shares of HSY stock opened at $194.79 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.09 and a quick ratio of 0.63. The company has a market cap of $39.83 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.61 and a beta of 0.36. The stock has a 50 day simple moving average of $188.86 and a 200-day simple moving average of $200.02. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $276.88.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
HSY has been the subject of several analyst reports. Stephens started coverage on shares of Hershey in a research note on Friday, October 13th. They issued an “overweight” rating and a $240.00 price objective for the company. Sanford C. Bernstein raised shares of Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Monday, January 29th. DA Davidson assumed coverage on Hershey in a research report on Friday, December 8th. They set a “neutral” rating and a $205.00 target price on the stock. Piper Sandler lowered Hershey from an “overweight” rating to a “neutral” rating and cut their target price for the company from $240.00 to $200.00 in a research note on Wednesday, November 29th. Finally, Bank of America lowered shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $200.00 in a research report on Friday, December 15th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $232.10.
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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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