Handelsbanken Fonder AB Buys 17,092 Shares of The Hershey Company (NYSE:HSY)

Handelsbanken Fonder AB lifted its stake in shares of The Hershey Company (NYSE:HSY) by 22.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 93,504 shares of the company’s stock after purchasing an additional 17,092 shares during the quarter. Handelsbanken Fonder AB’s holdings in Hershey were worth $15,835,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in Hershey during the 3rd quarter valued at about $25,000. Grove Bank & Trust grew its stake in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. purchased a new stake in Hershey in the 3rd quarter worth approximately $46,000. Finally, City State Bank boosted its holdings in Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $173.03 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The business’s 50 day simple moving average is $160.67 and its two-hundred day simple moving average is $178.37. The stock has a market capitalization of $35.01 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 5.82 and a beta of 0.37. The Hershey Company has a one year low of $140.13 and a one year high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson decreased their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Mizuho lowered their price target on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $164.15.

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.