Forsta AP Fonden Sells 15,500 Shares of The Hershey Company (NYSE:HSY)

Forsta AP Fonden reduced its stake in shares of The Hershey Company (NYSE:HSY) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the company’s stock after selling 15,500 shares during the quarter. Forsta AP Fonden’s holdings in Hershey were worth $5,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hershey in the 3rd quarter valued at $1,337,000. Principal Financial Group Inc. increased its holdings in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Woodstock Corp lifted its position in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after buying an additional 1,780 shares in the last quarter. HighTower Advisors LLC boosted its stake in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after buying an additional 45,936 shares during the last quarter. Finally, Pensionfund Sabic grew its holdings in Hershey by 55.6% during the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Hershey stock opened at $149.19 on Friday. The stock has a market cap of $30.19 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The firm has a 50-day moving average of $167.44 and a two-hundred day moving average of $182.29. The Hershey Company has a 1 year low of $147.60 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.67%. Hershey’s payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HSY shares. Mizuho lowered their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company dropped their price objective on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $153.00 to $120.00 in a research report on Friday. TD Cowen lowered their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup reduced their price objective on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Seven research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $170.05.

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.