Principal Financial Group Inc. Sells 26,296 Shares of Hershey Company (The) $HSY

Principal Financial Group Inc. cut its holdings in shares of Hershey Company (The) (NYSE:HSY) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 679,548 shares of the company’s stock after selling 26,296 shares during the quarter. Principal Financial Group Inc.’s holdings in Hershey were worth $127,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of HSY. Chicago Partners Investment Group LLC bought a new position in Hershey in the 2nd quarter worth approximately $224,000. Liberty One Investment Management LLC lifted its position in shares of Hershey by 32.4% during the third quarter. Liberty One Investment Management LLC now owns 38,076 shares of the company’s stock worth $7,122,000 after acquiring an additional 9,309 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Hershey by 4.8% in the second quarter. Nordea Investment Management AB now owns 58,078 shares of the company’s stock worth $9,695,000 after acquiring an additional 2,659 shares during the period. CORDA Investment Management LLC. grew its position in shares of Hershey by 6.6% in the third quarter. CORDA Investment Management LLC. now owns 113,746 shares of the company’s stock valued at $21,276,000 after purchasing an additional 7,064 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Hershey by 6.4% during the 3rd quarter. Independent Advisor Alliance now owns 42,538 shares of the company’s stock valued at $7,957,000 after purchasing an additional 2,573 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Up 1.6%

Shares of NYSE HSY opened at $197.84 on Tuesday. The stock has a fifty day simple moving average of $187.48 and a 200-day simple moving average of $184.90. Hershey Company has a twelve month low of $140.13 and a twelve month high of $201.86. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $40.12 billion, a PE ratio of 29.57 and a beta of 0.18.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HSY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Hershey in a report on Thursday, January 22nd. Zacks Research upgraded shares of Hershey from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Morgan Stanley restated an “overweight” rating and set a $214.00 price target on shares of Hershey in a research report on Wednesday, January 28th. Jefferies Financial Group increased their price objective on Hershey from $185.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Bank of America boosted their target price on Hershey from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average price target of $194.32.

Insider Transactions at Hershey

In other Hershey news, CEO Kirk Tanner purchased 2,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $185.46 per share, for a total transaction of $370,920.00. Following the completion of the purchase, the chief executive officer directly owned 47,860 shares in the company, valued at approximately $8,876,115.60. The trade was a 4.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $198.67, for a total value of $298,005.00. Following the completion of the sale, the chief financial officer owned 52,319 shares in the company, valued at approximately $10,394,215.73. The trade was a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $1,119,450. 0.28% of the stock is currently owned by corporate insiders.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.