Mediolanum International Funds Ltd Sells 57,425 Shares of Hershey Company (The) $HSY

Mediolanum International Funds Ltd cut its stake in shares of Hershey Company (The) (NYSE:HSY) by 78.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,366 shares of the company’s stock after selling 57,425 shares during the period. Mediolanum International Funds Ltd’s holdings in Hershey were worth $2,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HSY. Norges Bank bought a new position in shares of Hershey during the second quarter valued at about $234,386,000. Balyasny Asset Management L.P. bought a new position in shares of Hershey during the 2nd quarter worth approximately $125,868,000. Equity Investment Corp purchased a new position in shares of Hershey in the 2nd quarter worth approximately $73,706,000. Holocene Advisors LP grew its holdings in shares of Hershey by 44.7% in the second quarter. Holocene Advisors LP now owns 1,232,595 shares of the company’s stock valued at $204,549,000 after acquiring an additional 380,512 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Hershey by 173.7% during the second quarter. Citigroup Inc. now owns 534,567 shares of the company’s stock valued at $88,711,000 after acquiring an additional 339,240 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Activity at Hershey

In other Hershey news, CEO Kirk Tanner acquired 2,000 shares of Hershey stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average cost of $185.46 per share, for a total transaction of $370,920.00. Following the purchase, the chief executive officer 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $198.67, for a total value of $298,005.00. Following the sale, the chief financial officer owned 52,319 shares in the company, valued at approximately $10,394,215.73. This represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,000 shares of company stock worth $1,119,450. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HSY shares. Jefferies Financial Group boosted their price objective on Hershey from $185.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company set a $182.00 price target on shares of Hershey and gave the stock an “equal weight” rating in a report on Monday, January 5th. Piper Sandler set a $213.00 price target on shares of Hershey and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Zacks Research upgraded shares of Hershey from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hershey in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of “Hold” and a consensus price target of $194.32.

Hershey Price Performance

HSY opened at $197.84 on Tuesday. The firm has a 50-day moving average price of $187.48 and a 200-day moving average price of $184.90. Hershey Company has a twelve month low of $140.13 and a twelve month high of $201.86. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 29.57 and a beta of 0.18.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.