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

Mediolanum International Funds Ltd reduced its stake in shares of Hershey Company (The) (NYSE:HSY) by 78.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Hershey by 1.1% in the second quarter. Vanguard Group Inc. now owns 18,840,577 shares of the company’s stock valued at $3,126,594,000 after acquiring an additional 210,131 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hershey by 2.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,116,739 shares of the company’s stock worth $849,123,000 after purchasing an additional 125,100 shares during the period. Geode Capital Management LLC boosted its stake in shares of Hershey by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,567,373 shares of the company’s stock valued at $755,305,000 after purchasing an additional 126,519 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Hershey by 4.6% during the second quarter. JPMorgan Chase & Co. now owns 3,276,326 shares of the company’s stock worth $543,712,000 after buying an additional 144,640 shares during the period. Finally, Bank of America Corp DE raised its stake in Hershey by 2.1% during the second quarter. Bank of America Corp DE now owns 1,420,491 shares of the company’s stock worth $235,731,000 after buying an additional 29,462 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hershey

In other Hershey news, CEO Kirk Tanner bought 2,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $185.46 per share, for a total transaction of $370,920.00. Following the acquisition, the chief executive officer directly owned 47,860 shares of the company’s stock, valued at approximately $8,876,115.60. The trade was a 4.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stacy Taffet purchased 200 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average cost of $186.19 per share, for a total transaction of $37,238.00. Following the transaction, the insider owned 9,371 shares in the company, valued at $1,744,786.49. This represents a 2.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 6,000 shares of company stock worth $1,119,450. 0.28% of the stock is owned by corporate insiders.

Hershey Trading Up 1.6%

Shares of Hershey stock opened at $197.84 on Tuesday. The stock has a market capitalization of $40.12 billion, a PE ratio of 29.57 and a beta of 0.18. Hershey Company has a 52 week low of $140.13 and a 52 week high of $201.86. The stock has a 50 day moving average price of $187.48 and a two-hundred day moving average price of $184.90. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.83 and a current ratio of 1.36.

Analyst Ratings Changes

A number of brokerages have commented on HSY. Argus raised shares of Hershey to a “hold” rating in a research report on Wednesday, November 26th. DA Davidson boosted their price objective on Hershey from $185.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday. Piper Sandler set a $213.00 target price on Hershey and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Bank of America boosted their price target on Hershey from $200.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $188.00 price target on shares of Hershey in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $194.32.

About Hershey

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.