KLP Kapitalforvaltning AS Has $21.79 Million Stake in Hershey Company (The) $HSY

KLP Kapitalforvaltning AS boosted its position in shares of Hershey Company (The) (NYSE:HSY) by 2.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 131,295 shares of the company’s stock after purchasing an additional 3,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Hershey were worth $21,788,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Mraz Amerine & Associates Inc. acquired a new stake in Hershey during the second quarter worth about $517,000. Merit Financial Group LLC boosted its stake in shares of Hershey by 14.2% in the 2nd quarter. Merit Financial Group LLC now owns 31,796 shares of the company’s stock valued at $5,276,000 after purchasing an additional 3,952 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of Hershey by 934.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $50,000 after purchasing an additional 271 shares in the last quarter. Brown Miller Wealth Management LLC boosted its stake in shares of Hershey by 15.3% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $477,000 after purchasing an additional 381 shares in the last quarter. Finally, OLD National Bancorp IN boosted its stake in shares of Hershey by 895.4% in the 2nd quarter. OLD National Bancorp IN now owns 25,373 shares of the company’s stock valued at $4,211,000 after purchasing an additional 22,824 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Down 0.4%

Shares of NYSE HSY opened at $194.38 on Wednesday. The company has a 50 day simple moving average of $185.84 and a 200 day simple moving average of $173.59. The firm has a market cap of $39.41 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 4.72 and a beta of 0.26. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.8%. Hershey’s dividend payout ratio (DPR) is presently 72.78%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. This trade represents a 7.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michele Buck sold 19,290 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $3,472,200.00. Following the transaction, the chief executive officer owned 193,624 shares of the company’s stock, valued at approximately $34,852,320. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,704 shares of company stock worth $12,206,910. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HSY. Wells Fargo & Company raised their price target on shares of Hershey from $154.00 to $157.00 and gave the company an “underweight” rating in a research note on Thursday, September 25th. Stifel Nicolaus raised their price target on shares of Hershey from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Mizuho raised their price target on shares of Hershey from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. BNP Paribas Exane upgraded shares of Hershey from a “neutral” rating to an “outperform” rating in a research note on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hershey in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Hershey has an average rating of “Reduce” and a consensus price target of $174.05.

Hershey 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.