Andra AP fonden Has $5.09 Million Holdings in Hershey Company (The) $HSY

Key Points

• Andra AP fonden increased its Hershey stake by 31.7% in the first quarter, buying 5,899 more shares to bring its total to 24,500 shares valued at about $5.09 million.
• Institutional interest in Hershey remains high, with 57.96% of the stock owned by institutional investors. Several large funds recently made sizable moves in HSY, including new positions and major stake increases.
• Hershey reported better-than-expected quarterly results, with EPS of $2.35 versus $2.04 expected and revenue of $3.10 billion versus $3.03 billion expected. The company also paid a quarterly dividend of $1.452, implying a 3.4% yield.

Andra AP fonden lifted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 31.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,500 shares of the company's stock after purchasing an additional 5,899 shares during the quarter. Andra AP fonden's holdings in Hershey were worth $5,093,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HSY. Norges Bank acquired a new stake in shares of Hershey in the 4th quarter worth about $272,506,000. Marshall Wace LLP boosted its stake in Hershey by 546.6% during the 4th quarter. Marshall Wace LLP now owns 1,057,476 shares of the company's stock valued at $192,439,000 after purchasing an additional 893,940 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in Hershey by 150.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company's stock worth $232,731,000 after purchasing an additional 767,478 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Hershey by 4,478.5% during the 4th quarter. Pacer Advisors Inc. now owns 586,141 shares of the company's stock worth $106,666,000 after purchasing an additional 573,339 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new stake in shares of Hershey in the fourth quarter worth approximately $72,001,000. 57.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HSY shares. BTIG Research initiated coverage on Hershey in a report on Monday, April 13th. They issued a "neutral" rating on the stock. Wells Fargo & Company decreased their price target on Hershey from $220.00 to $200.00 and set an "equal weight" rating for the company in a report on Friday, May 1st. Evercore raised Hershey from an "in-line" rating to an "outperform" rating and set a $255.00 price target for the company in a research report on Wednesday, May 27th. TD Cowen upgraded Hershey from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a research note on Friday, May 1st. Finally, UBS Group cut their price objective on shares of Hershey from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of "Hold" and an average target price of $209.94.

Hershey Stock Performance

Shares of HSY opened at $172.31 on Thursday. The stock has a 50 day moving average of $180.95 and a 200 day moving average of $197.01. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.06 and a beta of 0.11. Hershey Company has a 12 month low of $161.43 and a 12 month high of $239.48. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. As a group, sell-side analysts forecast that Hershey Company will post 8.42 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Hershey's payout ratio is 108.19%.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares in the company, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company's stock.

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.

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