11,448 Shares in The Hershey Company (NYSE:HSY) Acquired by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC bought a new stake in shares of The Hershey Company (NYSE:HSY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,448 shares of the company’s stock, valued at approximately $1,939,000. Hershey accounts for 1.7% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently modified their holdings of HSY. Atomi Financial Group Inc. purchased a new stake in Hershey in the 3rd quarter worth about $235,000. Wedmont Private Capital increased its holdings in shares of Hershey by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 1,372 shares of the company’s stock valued at $257,000 after purchasing an additional 74 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Hershey by 41.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,450 shares of the company’s stock worth $1,045,000 after purchasing an additional 1,600 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of Hershey by 7.2% during the third quarter. Fiduciary Financial Group LLC now owns 1,145 shares of the company’s stock worth $215,000 after purchasing an additional 77 shares during the period. Finally, First Affirmative Financial Network purchased a new position in Hershey during the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 1.7 %

Shares of HSY opened at $154.98 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 0.96. The company has a 50-day simple moving average of $164.38 and a 200-day simple moving average of $180.46. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm has a market capitalization of $31.36 billion, a P/E ratio of 14.22, a P/E/G ratio of 4.89 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, equities research analysts expect that The Hershey Company will post 6.77 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bernstein Bank cut their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Barclays decreased their target price on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Mizuho reduced their price objective on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus target price of $166.35.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by company insiders.

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.