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

Forte Capital LLC ADV lifted its position in shares of The Hershey Company (NYSE:HSY) by 26.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,074 shares of the company’s stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Vanguard Group Inc. boosted its stake in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after acquiring an additional 90,329 shares during the period. Dimensional Fund Advisors LP boosted its position in Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after purchasing an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after purchasing an additional 147,215 shares during the period. Finally, Confluence Investment Management LLC increased its position in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after purchasing an additional 537,419 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus decreased their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Bank of America dropped their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada decreased their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $191.61.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Hershey Stock Performance

NYSE HSY opened at $172.89 on Friday. The company’s 50 day simple moving average is $189.89 and its two-hundred day simple moving average is $192.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 1 year low of $171.67 and a 1 year high of $211.92. The stock has a market capitalization of $34.97 billion, a PE ratio of 19.21, a P/E/G ratio of 4.14 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.17%. Hershey’s dividend payout ratio is 60.89%.

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.