Portfolio Design Labs LLC Buys Shares of 9,659 The Hershey Company (NYSE:HSY)

Portfolio Design Labs LLC bought a new stake in The Hershey Company (NYSE:HSY - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,659 shares of the company's stock, valued at approximately $1,852,000.

A number of other hedge funds have also modified their holdings of HSY. Advisors Asset Management Inc. grew its holdings in shares of Hershey by 18.9% in the third quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company's stock valued at $5,386,000 after purchasing an additional 4,464 shares during the period. Jennison Associates LLC grew its holdings in shares of Hershey by 1.4% in the third quarter. Jennison Associates LLC now owns 168,820 shares of the company's stock valued at $32,376,000 after purchasing an additional 2,404 shares during the period. Commerce Bank grew its holdings in shares of Hershey by 31.9% in the third quarter. Commerce Bank now owns 9,436 shares of the company's stock valued at $1,810,000 after purchasing an additional 2,281 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Hershey in the third quarter valued at about $60,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey in the third quarter valued at about $1,337,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Trading Up 2.2 %

HSY traded up $3.76 on Wednesday, reaching $174.00. 1,446,526 shares of the company's stock were exchanged, compared to its average volume of 1,705,007. The company's 50 day moving average is $185.99 and its 200-day moving average is $191.40. The company has a market cap of $35.21 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.10 and a beta of 0.38. The Hershey Company has a twelve month low of $168.16 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.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio (DPR) is 63.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $226.00 to $209.00 in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a "hold" rating in a research note on Tuesday, September 10th. Argus lowered shares of Hershey from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Bank of America lowered their target price on shares of Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Tuesday, October 15th. Finally, Citigroup lowered shares of Hershey from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $189.33.

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.