Handelsbanken Fonder AB Has $15.50 Million Position in The Hershey Company (NYSE:HSY)

Handelsbanken Fonder AB reduced its position in shares of The Hershey Company (NYSE:HSY) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,145 shares of the company’s stock after selling 4,863 shares during the period. Handelsbanken Fonder AB’s holdings in Hershey were worth $15,502,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HSY. Wealth Alliance raised its stake in shares of Hershey by 9.5% in the fourth quarter. Wealth Alliance now owns 1,137 shares of the company’s stock worth $212,000 after acquiring an additional 99 shares during the last quarter. Reliant Investment Management LLC acquired a new position in Hershey during the fourth quarter valued at approximately $4,173,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Hershey by 94.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,480 shares of the company’s stock valued at $3,237,000 after purchasing an additional 8,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hershey by 91.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,779 shares of the company’s stock valued at $17,111,000 after buying an additional 43,836 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Hershey in the fourth quarter valued at approximately $1,603,000. 57.96% of the stock is owned by institutional investors.

Hershey Stock Up 0.4 %

Shares of NYSE HSY opened at $187.10 on Wednesday. The company has a 50 day simple moving average of $192.01 and a 200 day simple moving average of $190.75. The firm has a market cap of $38.16 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.34. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $276.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the business earned $2.02 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that The Hershey Company will post 9.6 EPS for the current year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.93%. This is a boost from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio is 60.55%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HSY shares. Wells Fargo & Company reduced their price target on shares of Hershey from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus increased their price objective on shares of Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Barclays upped their price target on shares of Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a research note on Tuesday, March 26th. Finally, Piper Sandler reduced their price objective on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $223.33.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the transaction, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at approximately $369,681.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.90, for a total transaction of $296,850.00. Following the transaction, the chief financial officer now directly owns 40,228 shares of the company’s stock, valued at $7,961,121.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the sale, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at $369,681.48. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.