DnB Asset Management AS Increases Stake in The Hershey Company (NYSE:HSY)

DnB Asset Management AS boosted its stake in The Hershey Company (NYSE:HSY) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,771 shares of the company’s stock after buying an additional 3,570 shares during the period. DnB Asset Management AS’s holdings in Hershey were worth $6,227,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HSY. Crowley Wealth Management Inc. purchased a new position in shares of Hershey in the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in Hershey in the fourth quarter worth $29,000. Grove Bank & Trust raised its holdings in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Hershey during the fourth quarter valued at $34,000. Finally, ST Germain D J Co. Inc. boosted its holdings in shares of Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Down 0.4 %

Shares of Hershey stock opened at $169.87 on Monday. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $164.03 and its 200 day moving average is $173.67. The company has a market cap of $34.38 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Research analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.23%. Hershey’s dividend payout ratio is currently 50.28%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $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 can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HSY shares. Mizuho decreased their price target on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Bank of America reaffirmed a “neutral” rating and set a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Bernstein Bank reduced their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Morgan Stanley started coverage on Hershey in a 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 assigned a hold rating to the stock. Based on data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $162.50.

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.