Miramar Capital LLC Increases Holdings in The Hershey Company (NYSE:HSY)

Miramar Capital LLC raised its holdings in shares of The Hershey Company (NYSE:HSY) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,763 shares of the company’s stock after acquiring an additional 8,810 shares during the period. Hershey comprises approximately 2.7% of Miramar Capital LLC’s portfolio, making the stock its 22nd biggest holding. Miramar Capital LLC’s holdings in Hershey were worth $10,802,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its position in Hershey by 20.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after purchasing an additional 54 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Hershey by 13.3% in the 1st quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after acquiring an additional 57 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Hershey by 3.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock valued at $308,000 after acquiring an additional 59 shares during the period. Finally, Integrated Advisors Network LLC grew its position in Hershey by 3.5% during the 4th quarter. Integrated Advisors Network LLC now owns 1,794 shares of the company’s stock worth $334,000 after acquiring an additional 60 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HSY shares. Royal Bank of Canada dropped their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Barclays lowered their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Bank of America cut their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $203.21.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,538 shares of company stock valued at $667,793. Insiders own 0.34% of the company’s stock.

Hershey Trading Down 0.8 %

Shares of NYSE HSY opened at $197.63 on Thursday. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $212.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The firm has a 50-day moving average of $196.00 and a 200 day moving average of $193.94. The stock has a market cap of $39.97 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last released its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the business posted $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, sell-side analysts expect that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

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.