KLP Kapitalforvaltning AS Makes New Investment in The Hershey Company (NYSE:HSY)

KLP Kapitalforvaltning AS bought a new position in shares of The Hershey Company (NYSE:HSY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 126,595 shares of the company's stock, valued at approximately $21,439,000. KLP Kapitalforvaltning AS owned about 0.06% of Hershey at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Pathstone Holdings LLC lifted its holdings in shares of Hershey by 15.8% in the 3rd quarter. Pathstone Holdings LLC now owns 24,222 shares of the company's stock valued at $4,645,000 after buying an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Hershey in the third quarter valued at approximately $1,337,000. Commerce Bank boosted its position in Hershey by 31.9% in the 3rd quarter. Commerce Bank now owns 9,436 shares of the company's stock worth $1,810,000 after purchasing an additional 2,281 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Hershey by 73.6% during the 3rd quarter. Intech Investment Management LLC now owns 11,257 shares of the company's stock worth $2,159,000 after purchasing an additional 4,772 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of Hershey by 8.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 6,691 shares of the company's stock valued at $1,283,000 after purchasing an additional 533 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen lowered their price target on 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 reissued a "sector perform" rating and issued a $178.00 price target on shares of Hershey in a research note on Monday, February 3rd. Bank of America reaffirmed a "neutral" rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Jefferies Financial Group cut their target price on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research note on Tuesday, January 21st. Finally, 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 research note on Monday, February 10th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $162.50.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Hershey Trading Up 1.3 %

HSY stock traded up $2.27 during midday trading on Thursday, hitting $170.79. 754,862 shares of the company's stock were exchanged, compared to its average volume of 1,741,882. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. 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 stock has a market capitalization of $34.57 billion, a PE ratio of 15.67, a P/E/G ratio of 5.90 and a beta of 0.32. The business has a 50-day simple moving average of $163.35 and a two-hundred day simple moving average of $174.30.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (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%. On average, sell-side analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey's dividend payout ratio is currently 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.