Parthenon LLC Grows Stock Position in The Hershey Company (NYSE:HSY)

Parthenon LLC raised its position in The Hershey Company (NYSE:HSY) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,240 shares of the company’s stock after acquiring an additional 75 shares during the quarter. Parthenon LLC’s holdings in Hershey were worth $4,649,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HSY. Ashton Thomas Securities LLC purchased a new stake in Hershey during the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC increased its position in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the second quarter valued at about $29,000. Finally, Crewe Advisors LLC acquired a new stake in Hershey during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY traded down $1.35 during mid-day trading on Wednesday, hitting $180.15. The stock had a trading volume of 293,911 shares, compared to its average volume of 1,686,446. 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 company has a 50 day simple moving average of $188.88 and a 200-day simple moving average of $192.13. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 4.28 and a beta of 0.38. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.04%. Hershey’s dividend payout ratio is presently 63.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup cut 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 research note on Tuesday, August 27th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Bank of America reduced their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and a consensus target price of $189.33.

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.