Tranquility Partners LLC Makes New Investment in The Hershey Company (NYSE:HSY)

Tranquility Partners LLC bought a new stake in shares of The Hershey Company (NYSE:HSY) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,149 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pathstone Holdings LLC grew its position in shares of Hershey by 15.8% during the 3rd quarter. Pathstone Holdings LLC now owns 24,222 shares of the company’s stock valued at $4,645,000 after buying an additional 3,311 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its holdings in shares of Hershey by 6.5% during the third quarter. Cassaday & Co Wealth Management LLC now owns 3,856 shares of the company’s stock valued at $739,000 after purchasing an additional 234 shares during the last quarter. MAI Capital Management raised its position in shares of Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock worth $23,620,000 after purchasing an additional 12,832 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Hershey in the 3rd quarter worth approximately $46,000. Finally, Turtle Creek Wealth Advisors LLC boosted its position in Hershey by 1.1% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 22,227 shares of the company’s stock valued at $4,263,000 after purchasing an additional 242 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and dropped their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $189.33.

Hershey Stock Up 0.1 %

Shares of Hershey stock opened at $170.21 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The firm has a market capitalization 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 stock’s fifty day moving average is $185.99 and its 200-day moving average is $191.40.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

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.