Miramar Capital LLC Acquires 6,225 Shares of The Hershey Company (NYSE:HSY)

Miramar Capital LLC increased its holdings in shares of The Hershey Company (NYSE:HSY) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,988 shares of the company’s stock after acquiring an additional 6,225 shares during the period. Hershey makes up 2.9% of Miramar Capital LLC’s investment portfolio, making the stock its 18th largest holding. Miramar Capital LLC’s holdings in Hershey were worth $12,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC raised its stake in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after buying an additional 571,766 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in Hershey by 297.9% in 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 in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hershey in the second quarter worth $82,123,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

NYSE:HSY opened at $170.92 on Friday. The company has a market capitalization of $34.58 billion, a P/E ratio of 19.69, a P/E/G ratio of 4.42 and a beta of 0.38. The business’s 50-day moving average is $187.31 and its 200 day moving average is $191.81. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12 month low of $170.58 and a 12 month high of $211.92.

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. This represents a $5.48 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group initiated coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Stifel Nicolaus dropped their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.