Miramar Capital LLC Increases Stock Position in The Hershey Company (NYSE:HSY)

Miramar Capital LLC raised its holdings in shares of The Hershey Company (NYSE:HSY) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,988 shares of the company’s stock after acquiring an additional 6,225 shares during the quarter. Hershey comprises approximately 2.9% of Miramar Capital LLC’s portfolio, making the stock its 18th biggest holding. Miramar Capital LLC’s holdings in Hershey were worth $12,463,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in Hershey in the 3rd quarter worth about $25,000. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in Hershey in the 2nd quarter worth approximately $29,000. Finally, Crewe Advisors LLC bought a new position in Hershey in the 1st quarter valued at $35,000. 57.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Jefferies Financial Group cut their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Finally, Bank of America lowered their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Price Performance

HSY stock opened at $170.92 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The Hershey Company has a 1 year low of $170.58 and a 1 year high of $211.92. The firm has a 50-day moving average of $187.31 and a 200 day moving average of $191.81. The company has a market cap of $34.58 billion, a P/E ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38.

Hershey Announces Dividend

The company 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 $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

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.