Portfolio Design Labs LLC Takes $1.85 Million Position in The Hershey Company (NYSE:HSY)

Portfolio Design Labs LLC bought a new stake in The Hershey Company (NYSE:HSY) during the third quarter, according to the company in its most recent disclosure 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 recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in Hershey by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after buying an additional 25,780 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares in the last quarter. Finally, Confluence Investment Management LLC increased its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.1 %

Shares of NYSE HSY opened at $170.21 on Wednesday. The stock has a market cap of $34.44 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38. The Hershey Company has a 52-week low of $168.16 and a 52-week high of $211.92. The business has a 50-day moving average price of $185.99 and a 200 day moving average price of $191.40. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.22%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HSY. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and decreased their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Barclays lowered their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Jefferies Financial Group reduced their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $189.33.

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.