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

Iron Gate Global Advisors LLC grew its holdings in The Hershey Company (NYSE:HSY - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,424 shares of the company's stock after purchasing an additional 3,643 shares during the quarter. Hershey makes up approximately 1.8% of Iron Gate Global Advisors LLC's portfolio, making the stock its 16th largest holding. Iron Gate Global Advisors LLC's holdings in Hershey were worth $12,768,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HSY. Raymond James Financial Inc. purchased a new position in Hershey during the fourth quarter worth approximately $80,978,000. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after purchasing an additional 247,675 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Hershey in the fourth quarter worth about $21,439,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Hershey during the 4th quarter valued at approximately $18,273,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.28% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $178.00 price objective on shares of Hershey in a report on Monday, February 3rd. DA Davidson decreased their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, UBS Group lifted their price target on Hershey from $159.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $163.35.

Hershey Stock Performance

Shares of NYSE:HSY traded down $0.76 on Monday, reaching $165.83. 193,010 shares of the company's stock were exchanged, compared to its average volume of 1,787,517. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $33.57 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 5.90 and a beta of 0.28. The company has a fifty day moving average of $168.78 and a 200-day moving average of $170.28. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.30%. Hershey's payout ratio is 50.28%.

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.