Mirabella Financial Services LLP Invests $1.15 Million in The Hershey Company (NYSE:HSY)

Mirabella Financial Services LLP acquired a new position in The Hershey Company (NYSE:HSY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,006 shares of the company's stock, valued at approximately $1,152,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its stake in Hershey by 86.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 7,233 shares of the company's stock valued at $1,387,000 after purchasing an additional 3,352 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Hershey by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,127 shares of the company's stock worth $3,476,000 after purchasing an additional 1,877 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Hershey by 1.7% in the third quarter. Westfield Capital Management Co. LP now owns 41,366 shares of the company's stock worth $7,933,000 after buying an additional 709 shares during the period. SevenBridge Financial Group LLC lifted its holdings in Hershey by 4.2% during the third quarter. SevenBridge Financial Group LLC now owns 41,141 shares of the company's stock valued at $7,344,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Hershey by 3.1% in the 3rd quarter. Swedbank AB now owns 135,898 shares of the company's stock worth $26,063,000 after buying an additional 4,124 shares during the period. Institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HSY. Citigroup lowered Hershey from a "neutral" rating to a "sell" rating and cut their price objective for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Jefferies Financial Group decreased 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. UBS Group lowered Hershey from a "buy" rating to a "neutral" rating and lowered their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Sanford C. Bernstein lowered Hershey from an "outperform" rating to a "market perform" rating and cut their target price for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $189.33.

Hershey Trading Up 0.4 %

Shares of NYSE:HSY traded up $0.68 during midday trading on Monday, reaching $175.49. 2,088,221 shares of the company's stock were exchanged, compared to its average volume of 1,703,502. The firm's 50 day simple moving average is $184.51 and its two-hundred day simple moving average is $190.90. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92. 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 stock has a market cap of $35.51 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 4.19 and a beta of 0.38.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.12%. Hershey's dividend payout ratio is currently 63.13%.

About Hershey

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.