KLP Kapitalforvaltning AS Acquires 3,400 Shares of Hershey Company (The) $HSY

Key Points

• KLP Kapitalforvaltning AS increased its stake in Hershey Company by 2.7%, acquiring an additional 3,400 shares, thereby owning a total of 131,295 shares valued at $21.79 million.
• Several analysts have changed their recommendations for Hershey, with Goldman Sachs upgrading it from "sell" to "buy" and raising the price target from $170 to $222.
• Hershey recently declared a quarterly dividend of $1.37, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 72.78%.

KLP Kapitalforvaltning AS lifted its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,295 shares of the company's stock after purchasing an additional 3,400 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Hershey worth $21,788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. bought a new stake in Hershey during the first quarter worth $28,000. Tradewinds Capital Management LLC raised its position in Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after acquiring an additional 101 shares in the last quarter. Fort Vancouver Investment Management LLC bought a new stake in Hershey during the first quarter worth $34,000. MorganRosel Wealth Management LLC bought a new stake in Hershey during the first quarter worth $35,000. Finally, Zions Bancorporation National Association UT bought a new stake in Hershey during the first quarter worth $36,000. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on HSY shares. Mizuho upped their price target on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. The Goldman Sachs Group raised shares of Hershey from a "sell" rating to a "buy" rating and increased their price objective for the company from $170.00 to $222.00 in a research report on Tuesday, September 16th. DA Davidson increased their price objective on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Bank of America increased their price objective on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus increased their price objective on shares of Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Hershey has an average rating of "Reduce" and an average target price of $174.05.

Hershey Trading Down 0.4%

HSY stock opened at $194.38 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. The company's 50-day simple moving average is $185.84 and its 200 day simple moving average is $173.59. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The company has a market capitalization 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 (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $1.27 earnings per share. Hershey's revenue was up 26.0% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, sell-side analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were paid a $1.37 dividend. The ex-dividend date was Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.8%. Hershey's dividend payout ratio is 72.78%.

Insider Activity at Hershey

In other Hershey news, insider Rohit Grover sold 1,334 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the sale, the insider directly owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 5,000 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer owned 61,319 shares in the company, valued at $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,704 shares of company stock worth $12,206,910. Corporate insiders own 0.28% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.