The Hershey Company (NYSE:HSY) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in The Hershey Company (NYSE:HSY) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 31,500 shares of the company’s stock after buying an additional 900 shares during the period. Intact Investment Management Inc.’s holdings in Hershey were worth $6,041,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Donaldson Capital Management LLC boosted its stake in Hershey by 0.9% in the 3rd quarter. Donaldson Capital Management LLC now owns 19,352 shares of the company’s stock worth $3,711,000 after buying an additional 181 shares during the last quarter. Forum Financial Management LP boosted its stake in Hershey by 1.6% in the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares during the last quarter. Van ECK Associates Corp boosted its stake in Hershey by 10.9% in the 3rd quarter. Van ECK Associates Corp now owns 33,708 shares of the company’s stock worth $6,134,000 after buying an additional 3,303 shares during the last quarter. Glassy Mountain Advisors Inc. boosted its stake in Hershey by 7.1% in the 3rd quarter. Glassy Mountain Advisors Inc. now owns 27,703 shares of the company’s stock worth $5,313,000 after buying an additional 1,842 shares during the last quarter. Finally, Fort Pitt Capital Group LLC acquired a new position in shares of Hershey in the 3rd quarter valued at about $3,426,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Hershey Price Performance

HSY stock opened at $179.00 on Tuesday. 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 $176.78 and a 52-week high of $211.92. The stock’s 50 day moving average is $190.41 and its two-hundred day moving average is $192.49. The company has a market capitalization of $36.21 billion, a PE ratio of 19.89, a P/E/G ratio of 4.09 and a beta of 0.38.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HSY shares. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Redburn Atlantic started coverage on Hershey in a research note 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 assigned a hold rating to the company. According to data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average target price of $191.61.

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.