Mirabella Financial Services LLP Takes Position in The Hershey Company (NYSE:HSY)

Mirabella Financial Services LLP purchased a new stake in shares of The Hershey Company (NYSE:HSY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 6,006 shares of the company’s stock, valued at approximately $1,152,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the period. Brighton Jones LLC lifted its holdings in shares of Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its holdings in shares of Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HSY shares. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Barclays reduced their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Stock Performance

Shares of HSY opened at $174.95 on Monday. The business’s 50 day moving average is $184.51 and its two-hundred day moving average is $190.90. The Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92. The firm has a market cap of $35.40 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 4.19 and a beta of 0.38. 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 Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is 63.13%.

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.