Forum Financial Management LP Grows Position in The Hershey Company (NYSE:HSY)

Forum Financial Management LP lifted its stake in The Hershey Company (NYSE:HSY) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,130 shares of the company’s stock after buying an additional 64 shares during the quarter. Forum Financial Management LP’s holdings in Hershey were worth $792,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HSY. Vanguard Group Inc. increased its position in Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. International Assets Investment Management LLC increased its position in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Confluence Investment Management LLC increased its position in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Hershey during the second quarter valued at $82,123,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after acquiring an additional 230,077 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.1 %

Shares of Hershey stock opened at $179.00 on Tuesday. 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 stock’s 50 day simple moving average is $190.41 and its 200-day simple moving average is $192.49. The stock has a market cap of $36.21 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.09 and a beta of 0.38. The Hershey Company has a 1-year low of $176.78 and a 1-year high of $211.92.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HSY has been the topic of a number of research analyst reports. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and cut their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Jefferies Financial Group decreased their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada decreased their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group began 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. 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 currently has an average rating of “Hold” and an average price target of $191.61.

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.