Iron Gate Global Advisors LLC Grows Stock Position in The Hershey Company (NYSE:HSY)

Iron Gate Global Advisors LLC grew its stake in The Hershey Company (NYSE:HSY) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,781 shares of the company’s stock after purchasing an additional 5,735 shares during the quarter. Hershey makes up approximately 2.1% of Iron Gate Global Advisors LLC’s holdings, making the stock its 16th biggest holding. Iron Gate Global Advisors LLC’s holdings in Hershey were worth $13,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Hershey during the 3rd quarter valued at $1,337,000. LPL Financial LLC grew its holdings in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the period. MAI Capital Management raised its stake in Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock valued at $23,620,000 after purchasing an additional 12,832 shares during the last quarter. Portfolio Design Labs LLC bought a new stake in shares of Hershey during the 3rd quarter worth approximately $1,852,000. Finally, Advisors Asset Management Inc. raised its stake in Hershey by 18.9% during the third quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock worth $5,386,000 after acquiring an additional 4,464 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.9 %

Shares of NYSE:HSY opened at $177.80 on Tuesday. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The company’s 50-day moving average price is $181.86 and its two-hundred day moving average price is $189.59. The firm has a market cap of $35.98 billion, a P/E ratio of 20.48, a P/E/G ratio of 4.22 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

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 given a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.08%. Hershey’s payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HSY shares. Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada lowered their price target on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Jefferies Financial Group decreased their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $189.33.

Hershey 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.