Miracle Mile Advisors LLC Makes New $1.20 Million Investment in The Hershey Company (NYSE:HSY)

Miracle Mile Advisors LLC bought a new position in shares of The Hershey Company (NYSE:HSY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 7,083 shares of the company's stock, valued at approximately $1,199,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Eastern Bank raised its stake in Hershey by 10.7% during the 4th quarter. Eastern Bank now owns 1,660 shares of the company's stock worth $281,000 after buying an additional 160 shares during the period. Fulcrum Capital LLC raised its position in shares of Hershey by 2.8% during the fourth quarter. Fulcrum Capital LLC now owns 39,354 shares of the company's stock worth $6,665,000 after purchasing an additional 1,058 shares during the period. Bridge Creek Capital Management LLC lifted its holdings in shares of Hershey by 15.8% during the 4th quarter. Bridge Creek Capital Management LLC now owns 3,490 shares of the company's stock valued at $591,000 after purchasing an additional 475 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Hershey by 8.0% during the 4th quarter. Brookstone Capital Management now owns 10,912 shares of the company's stock valued at $1,848,000 after purchasing an additional 805 shares in the last quarter. Finally, City State Bank grew its position in shares of Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company's stock valued at $52,000 after purchasing an additional 210 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of HSY traded down $3.56 during midday trading on Wednesday, reaching $151.75. The stock had a trading volume of 3,583,936 shares, compared to its average volume of 2,093,853. The firm has a market cap of $30.71 billion, a PE ratio of 17.48, a P/E/G ratio of 4.38 and a beta of 0.38. The firm has a 50 day simple moving average of $173.19 and a 200-day simple moving average of $185.04. The Hershey Company has a one year low of $150.31 and a one year high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, November 18th. Hershey's payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HSY shares. TD Cowen cut their price target on shares of Hershey from $190.00 to $172.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. UBS Group cut shares of Hershey from a "buy" rating to a "neutral" rating and cut their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Sanford C. Bernstein cut Hershey from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Mizuho cut their price target on Hershey from $195.00 to $170.00 and set a "neutral" rating on the stock in a report on Monday, December 23rd. Finally, Citigroup reduced their price objective on Hershey from $165.00 to $159.00 and set a "sell" rating for the company in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $182.21.

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.