Handelsbanken Fonder AB Sells 4,863 Shares of The Hershey Company (NYSE:HSY)

Handelsbanken Fonder AB decreased its stake in shares of The Hershey Company (NYSE:HSY) by 5.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Hershey by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after acquiring an additional 222,960 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Hershey by 143.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after buying an additional 1,453,819 shares during the last quarter. Northern Trust Corp grew its position in shares of Hershey by 2.0% in the 3rd quarter. Northern Trust Corp now owns 1,779,549 shares of the company’s stock worth $356,052,000 after buying an additional 35,393 shares during the last quarter. FMR LLC boosted its position in shares of Hershey by 0.7% during the third quarter. FMR LLC now owns 1,170,830 shares of the company’s stock valued at $234,260,000 after purchasing an additional 8,344 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Hershey by 2.2% during the third quarter. Ameriprise Financial Inc. now owns 997,329 shares of the company’s stock valued at $198,085,000 after purchasing an additional 21,229 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Activity

In other news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction on 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 in the company, valued at approximately $369,681.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, March 25th. The stock was 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 in the company, valued at approximately $7,961,121.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction on 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 owns 1,862 shares in the company, 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 Price Performance

NYSE:HSY opened at $187.10 on Wednesday. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $276.88. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average is $192.01 and its 200 day moving average is $190.75. The company has a market capitalization of $38.16 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.86 and a beta of 0.34.

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

Hershey Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on HSY. BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research note on Tuesday, March 26th. Morgan Stanley cut Hershey from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $191.00 to $183.00 in a research note on Monday, February 12th. Wells Fargo & Company cut their price objective on 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 boosted their price target on Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $223.33.

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.