Norges Bank Makes New $234.39 Million Investment in Hershey Company (The) $HSY

Norges Bank purchased a new position in shares of Hershey Company (The) (NYSE:HSY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,412,387 shares of the company’s stock, valued at approximately $234,386,000.

A number of other hedge funds have also made changes to their positions in HSY. Scotia Capital Inc. raised its stake in shares of Hershey by 4.0% in the 2nd quarter. Scotia Capital Inc. now owns 6,132 shares of the company’s stock valued at $1,018,000 after acquiring an additional 238 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Hershey by 4.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,168 shares of the company’s stock worth $3,513,000 after purchasing an additional 828 shares during the period. Korea Investment CORP grew its holdings in Hershey by 15.3% during the second quarter. Korea Investment CORP now owns 34,247 shares of the company’s stock valued at $5,683,000 after purchasing an additional 4,553 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Hershey in the second quarter valued at approximately $36,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Hershey by 82.4% in the second quarter. Quadrant Capital Group LLC now owns 4,781 shares of the company’s stock worth $793,000 after buying an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $179.56, for a total value of $269,340.00. Following the sale, the chief financial officer directly owned 55,319 shares in the company, valued at $9,933,079.64. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kirk Tanner acquired 2,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were bought at an average price of $185.46 per share, with a total value of $370,920.00. Following the completion of the purchase, the chief executive officer directly owned 47,860 shares of the company’s stock, valued at approximately $8,876,115.60. This represents a 4.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 6,000 shares of company stock worth $1,103,640. Company insiders own 0.34% of the company’s stock.

Hershey Trading Down 1.4%

Hershey stock opened at $185.54 on Tuesday. The business has a 50 day moving average price of $183.21 and a two-hundred day moving average price of $177.89. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The stock has a market cap of $37.62 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.21 and a beta of 0.24.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 30th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.24. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.11 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. As a group, equities analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, November 17th. Hershey’s payout ratio is presently 81.91%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of Hershey from $204.00 to $200.00 and set a “hold” rating for the company in a report on Friday, October 31st. Stifel Nicolaus cut their target price on shares of Hershey from $195.00 to $185.00 and set a “hold” rating for the company in a research report on Friday, October 31st. BNP Paribas Exane upgraded shares of Hershey from a “neutral” rating to an “outperform” rating in a report on Monday, September 15th. Morgan Stanley reiterated a “mixed” rating and issued a $184.00 price objective on shares of Hershey in a research note on Friday, October 31st. Finally, Evercore ISI reissued a “positive” rating on shares of Hershey in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Hershey has an average rating of “Hold” and an average target price of $179.74.

Hershey Company 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.