KLP Kapitalforvaltning AS Invests $21.44 Million in The Hershey Company (NYSE:HSY)

KLP Kapitalforvaltning AS acquired a new position in The Hershey Company (NYSE:HSY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 126,595 shares of the company’s stock, valued at approximately $21,439,000. KLP Kapitalforvaltning AS owned about 0.06% of Hershey as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HSY. Raymond James Financial Inc. bought a new stake in shares of Hershey in the 4th quarter worth approximately $80,978,000. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. State Street Corp lifted its holdings in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after acquiring an additional 139,831 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HSY shares. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Mizuho decreased their target price on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. DA Davidson decreased their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $163.75.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Performance

Shares of HSY stock opened at $167.38 on Friday. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The stock has a market cap of $33.88 billion, a PE ratio of 15.36, a price-to-earnings-growth 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 company’s fifty day moving average price is $162.61 and its 200-day moving average price is $174.96.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, February 14th. Hershey’s payout ratio is 50.28%.

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.