The Hershey Company (NYSE:HSY) Holdings Raised by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,771 shares of the company's stock after buying an additional 3,570 shares during the quarter. DnB Asset Management AS's holdings in Hershey were worth $6,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in Hershey during the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its position in shares of Hershey by 248.0% during the 4th 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. Vision Financial Markets LLC bought a new position in Hershey during the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new stake in Hershey during the fourth quarter valued at $34,000. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock worth $44,000 after purchasing an additional 100 shares during the period. Institutional investors own 57.96% of the company's stock.

Analyst Ratings Changes

HSY has been the subject of several research reports. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Jefferies Financial Group dropped their price target on Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 21st. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Morgan Stanley assumed coverage on Hershey in a research report on Monday, March 24th. They issued an "equal weight" rating and a $183.00 target price on the stock. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $162.50.

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Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company's stock.

Hershey Price Performance

NYSE:HSY traded down $5.72 during midday trading on Wednesday, hitting $163.90. 1,643,752 shares of the stock were exchanged, compared to its average volume of 1,784,956. The company has a market capitalization of $33.18 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The business has a 50-day moving average price of $164.71 and a two-hundred day moving average price of $173.25.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data 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%. Sell-side analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's payout ratio is 50.28%.

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.