AMF Tjanstepension AB Makes New Investment in The Hershey Company (NYSE:HSY)

AMF Tjanstepension AB acquired a new stake in shares of The Hershey Company (NYSE:HSY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,330 shares of the company’s stock, valued at approximately $612,000.

A number of other institutional investors also recently modified their holdings of HSY. Vanguard Group Inc. raised its holdings in Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. Norges Bank purchased a new stake in Hershey in the fourth quarter worth about $349,448,000. Janus Henderson Group PLC grew its holdings in shares of Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after acquiring an additional 90,329 shares during the period. Vontobel Asset Management Inc. raised its position in shares of Hershey by 16.8% in the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock worth $151,715,000 after acquiring an additional 112,304 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hershey by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,761 shares of the company’s stock worth $145,006,000 after acquiring an additional 19,018 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the sale, the chief financial officer now directly owns 35,728 shares in the company, valued at approximately $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 4,500 shares of company stock worth $867,450. 0.34% of the stock is owned by insiders.

Hershey Stock Performance

Shares of NYSE HSY traded up $0.43 during trading on Wednesday, reaching $199.82. 1,520,933 shares of the company traded hands, compared to its average volume of 1,860,004. The firm has a 50 day simple moving average of $189.87 and a 200-day simple moving average of $192.83. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $230.69. The stock has a market capitalization of $40.41 billion, a PE ratio of 19.82, a P/E/G ratio of 4.96 and a beta of 0.36. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. Equities research analysts anticipate that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s payout ratio is currently 54.31%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HSY. Bank of America reduced their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Sanford C. Bernstein dropped their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Argus cut their price objective on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and an average price target of $204.50.

About Hershey

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.