Avanza Fonder AB Takes $2.52 Million Position in The Hershey Company (NYSE:HSY)

Avanza Fonder AB acquired a new position in The Hershey Company (NYSE:HSY) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,861 shares of the company’s stock, valued at approximately $2,517,000.

A number of other large investors have also recently added to or reduced their stakes in HSY. International Assets Investment Management LLC raised its position in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Principal Financial Group Inc. increased its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares in the last quarter. State Street Corp raised its holdings in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Hershey by 31.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after acquiring an additional 139,831 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on HSY shares. Wells Fargo & Company cut their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday. Bank of America reissued a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 price target on shares of Hershey in a report on Tuesday, December 10th. Finally, Piper Sandler reduced their price target on Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $176.42.

Hershey Stock Performance

Shares of HSY stock opened at $152.82 on Friday. The company’s fifty day simple moving average is $171.86 and its 200-day simple moving average is $184.39. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The Hershey Company has a 52 week low of $150.31 and a 52 week high of $211.92. The company has a market cap of $30.92 billion, a PE ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

About Hershey

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.