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

Miramar Capital LLC increased its position in The Hershey Company (NYSE:HSY - Free Report) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,988 shares of the company's stock after buying an additional 6,225 shares during the period. Hershey comprises approximately 2.9% of Miramar Capital LLC's holdings, making the stock its 18th largest position. Miramar Capital LLC's holdings in Hershey were worth $12,463,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company's stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company's stock valued at $289,327,000 after purchasing an additional 90,329 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company's stock valued at $144,743,000 after purchasing an additional 25,780 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company's stock valued at $143,962,000 after purchasing an additional 147,215 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Analyst Ratings Changes

HSY has been the topic of several recent research reports. Barclays decreased their target price on shares of Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Stifel Nicolaus reduced their price objective on shares of Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Citigroup lowered shares of Hershey from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They issued a "sell" rating and a $185.00 price objective on the stock. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $189.33.

Hershey Stock Down 4.5 %

HSY traded down $8.02 during trading on Friday, hitting $170.92. The stock had a trading volume of 3,656,501 shares, compared to its average volume of 1,706,547. The company has a market capitalization of $34.58 billion, a PE ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38. The Hershey Company has a twelve month low of $170.58 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a 50 day simple moving average of $187.31 and a two-hundred day simple moving average of $191.81.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. 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 3.21%. 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.