Nordea Investment Management AB Reduces Stock Position in The Hershey Company (NYSE:HSY)

Nordea Investment Management AB lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 59.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,895 shares of the company’s stock after selling 77,970 shares during the period. Nordea Investment Management AB’s holdings in Hershey were worth $8,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Hershey during the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Hershey in the third quarter worth $46,000. Future Financial Wealth Managment LLC bought a new stake in shares of Hershey during the 3rd quarter valued at $48,000. Finally, Quarry LP grew its position in shares of Hershey by 123.9% in the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock worth $55,000 after buying an additional 166 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 1.8 %

HSY stock opened at $162.51 on Friday. The stock has a market capitalization of $32.88 billion, a P/E ratio of 18.72, a P/E/G ratio of 4.38 and a beta of 0.38. The Hershey Company has a 52 week low of $159.87 and a 52 week high of $211.92. The firm has a 50-day simple moving average of $174.53 and a 200-day simple moving average of $185.61. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.37%. Hershey’s payout ratio is presently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Barclays reduced their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price on Hershey from $160.00 to $150.00 and set an “underweight” rating on the stock in a report on Tuesday. Bank of America restated a “neutral” rating and set a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.21.

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.