Avestar Capital LLC Has $225,000 Position in The Hershey Company (NYSE:HSY)

Avestar Capital LLC increased its stake in shares of The Hershey Company (NYSE:HSY) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,175 shares of the company’s stock after buying an additional 67 shares during the quarter. Avestar Capital LLC’s holdings in Hershey were worth $225,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Hershey by 3.4% during 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 during the last quarter. Envestnet Asset Management Inc. lifted its stake in Hershey by 23.2% during 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 stake in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group cut Hershey from a “buy” rating to a “neutral” rating and cut their target price for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Royal Bank of Canada dropped their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group dropped their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Stock Up 0.5 %

Hershey stock opened at $174.09 on Friday. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The firm has a market capitalization of $35.23 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a 50 day simple moving average of $182.58 and a 200 day simple moving average of $190.28.

Hershey Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

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.