Douglas Lane & Associates LLC Increases Stake in The Hershey Company (NYSE:HSY)

Douglas Lane & Associates LLC raised its holdings in shares of The Hershey Company (NYSE:HSY) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,461 shares of the company’s stock after acquiring an additional 42,550 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Hershey were worth $53,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey during the third quarter valued at $1,337,000. Principal Financial Group Inc. lifted its position 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 buying an additional 389,404 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Hershey by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after acquiring an additional 45,936 shares during the period. LPL Financial LLC increased its holdings in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after acquiring an additional 29,246 shares in the last quarter. Finally, Pensionfund Sabic raised its stake in Hershey by 55.6% during the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after acquiring an additional 3,000 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 2.7 %

NYSE HSY traded down $4.39 during trading hours on Wednesday, hitting $161.13. 1,587,057 shares of the company were exchanged, compared to its average volume of 1,193,587. The stock has a market cap of $32.61 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The Hershey Company has a 52 week low of $159.87 and a 52 week high of $211.92. The stock has a 50-day moving average price of $175.13 and a 200 day moving average price of $185.94. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.40%. Hershey’s payout ratio is presently 63.13%.

Analysts Set New Price Targets

HSY has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Redburn Atlantic assumed coverage on Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Finally, Citigroup dropped their price target on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.21.

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.