Norges Bank Invests $272.51 Million in Hershey Company (The) $HSY

Norges Bank acquired a new position in shares of Hershey Company (The) (NYSE:HSY) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,497,448 shares of the company’s stock, valued at approximately $272,506,000.

Other hedge funds have also modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in Hershey during the 3rd quarter valued at $26,000. Laurel Wealth Advisors LLC purchased a new stake in Hershey during the 4th quarter valued at $27,000. Measured Wealth Private Client Group LLC purchased a new stake in Hershey during the 3rd quarter valued at $35,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Hershey during the 4th quarter valued at $42,000. Finally, WHI TRUST Co LLC purchased a new stake in Hershey during the 4th quarter valued at $45,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the transaction, the chief financial officer owned 57,695 shares of the company’s stock, valued at approximately $11,198,599.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $184.12 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $196.96 and its two-hundred day simple moving average is $198.76. Hershey Company has a twelve month low of $158.67 and a twelve month high of $239.48. The firm has a market cap of $37.35 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.12 and a beta of 0.09.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Analysts predict that Hershey Company will post 8.45 earnings per share for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.2%. Hershey’s dividend payout ratio is presently 108.19%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group decreased their price target on Hershey from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Hershey from $212.00 to $200.00 and set a “hold” rating on the stock in a report on Monday, March 30th. JPMorgan Chase & Co. cut their price objective on Hershey from $211.00 to $204.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Hershey in a research note on Tuesday, April 21st. Finally, Evercore upgraded Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 target price on the stock in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $218.06.

Hershey Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.