Concurrent Investment Advisors LLC Buys 423 Shares of The Hershey Company (NYSE:HSY)

Concurrent Investment Advisors LLC lifted its stake in The Hershey Company (NYSE:HSY) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,856 shares of the company’s stock after acquiring an additional 423 shares during the period. Concurrent Investment Advisors LLC’s holdings in Hershey were worth $2,082,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HSY. Radnor Capital Management LLC bought a new position in Hershey in the third quarter worth about $293,000. Hixon Zuercher LLC raised its stake in shares of Hershey by 4.4% during the 3rd quarter. Hixon Zuercher LLC now owns 3,519 shares of the company’s stock worth $675,000 after acquiring an additional 149 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Hershey by 0.6% during the third quarter. Pittenger & Anderson Inc. now owns 15,730 shares of the company’s stock valued at $3,017,000 after acquiring an additional 90 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in Hershey by 22.5% in the third quarter. Moloney Securities Asset Management LLC now owns 3,540 shares of the company’s stock valued at $679,000 after acquiring an additional 650 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Hershey in the third quarter worth $82,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Down 2.2 %

Shares of HSY stock opened at $172.89 on Friday. The Hershey Company has a twelve month low of $171.67 and a twelve month high of $211.92. The stock has a market cap of $34.97 billion, a P/E ratio of 19.21, a P/E/G ratio of 4.14 and a beta of 0.38. The stock has a 50 day moving average of $189.89 and a 200 day moving average of $192.34. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey Dividend Announcement

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

Wall Street Analysts Forecast Growth

HSY has been the subject of several analyst reports. Argus lowered Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Jefferies Financial Group lowered their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Barclays cut their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $191.61.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by 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.