Forte Capital LLC ADV Boosts Stock Position in The Hershey Company (NYSE:HSY)

Forte Capital LLC ADV grew its position in shares of The Hershey Company (NYSE:HSY) by 26.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,074 shares of the company’s stock after acquiring an additional 635 shares during the period. Forte Capital LLC ADV’s holdings in Hershey were worth $590,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HSY. Capital Advisors Ltd. LLC grew its position in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the 2nd quarter worth $29,000. Crewe Advisors LLC bought a new stake in Hershey in the first quarter worth $35,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Hershey during the third quarter valued at about $48,000. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 2.2 %

HSY opened at $172.89 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92. The stock has a market cap of $34.97 billion, a PE ratio of 19.21, a PEG ratio of 4.14 and a beta of 0.38. The business has a 50 day moving average of $189.89 and a 200-day moving average of $192.34.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on HSY. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Bank of America cut their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Finally, Stifel Nicolaus cut their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $191.61.

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.