Swedbank AB Increases Holdings in The Hershey Company (NYSE:HSY)

Swedbank AB increased its holdings in The Hershey Company (NYSE:HSY) by 5.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 143,294 shares of the company’s stock after buying an additional 7,396 shares during the period. Swedbank AB’s holdings in Hershey were worth $24,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC purchased a new stake in shares of Hershey in the 4th quarter valued at $6,230,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Hershey by 1.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,516 shares of the company’s stock valued at $1,950,000 after buying an additional 190 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC raised its stake in shares of Hershey by 16.8% during the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,436 shares of the company’s stock valued at $243,000 after buying an additional 207 shares during the last quarter. Court Place Advisors LLC acquired a new position in shares of Hershey in the 4th quarter valued at about $244,000. Finally, Buttonwood Financial Advisors Inc. boosted its stake in shares of Hershey by 4.4% in the fourth quarter. Buttonwood Financial Advisors Inc. now owns 3,298 shares of the company’s stock worth $559,000 after buying an additional 139 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSY has been the subject of a number of analyst reports. Bank of America reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. UBS Group lowered their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler cut their price objective on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, TD Cowen reduced their price target on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $171.79.

Hershey Trading Up 1.9 %

Shares of HSY stock opened at $152.00 on Friday. The Hershey Company has a twelve month low of $147.60 and a twelve month high of $211.92. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 4.28 and a beta of 0.38. The company’s 50-day moving average price is $167.90 and its 200-day moving average price is $182.50. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.61%. Hershey’s dividend payout ratio is currently 63.13%.

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.