Alliancebernstein L.P. Sells 79,665 Shares of Hershey Company (The) $HSY

Key Points

• Alliancebernstein L.P. reduced its stake in Hershey Company by 30.1%, owning about 184,602 shares valued at approximately $31.57 million after selling 79,665 shares in the first quarter.
• Multiple institutional investors, including Kennon Green & Company and William Allan Corp, significantly increased their holdings, with total institutional ownership now at 57.96%.
• Hershey recently declared a quarterly dividend of $1.37, resulting in an annualized yield of 2.9% and a payout ratio of 72.78%.

Alliancebernstein L.P. decreased its position in Hershey Company (The) (NYSE:HSY - Free Report) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,602 shares of the company's stock after selling 79,665 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Hershey worth $31,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Putney Financial Group LLC acquired a new stake in shares of Hershey in the 4th quarter valued at about $25,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Hershey in the fourth quarter valued at about $28,000. Proffitt & Goodson Inc. acquired a new stake in shares of Hershey in the first quarter valued at about $28,000. Tradewinds Capital Management LLC increased its position in shares of Hershey by 129.5% in the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Finally, Fort Vancouver Investment Management LLC acquired a new stake in shares of Hershey in the first quarter valued at about $34,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

Shares of NYSE:HSY traded down $0.60 during trading on Friday, reaching $184.95. 871,541 shares of the stock were exchanged, compared to its average volume of 1,110,049. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The firm has a market cap of $37.49 billion, a PE ratio of 24.56, a PEG ratio of 4.48 and a beta of 0.27. The stock has a 50-day moving average price of $180.35 and a 200-day moving average price of $171.71. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The business's revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, August 15th. Hershey's payout ratio is 72.78%.

Insider Buying and Selling

In other Hershey news, SVP James Turoff sold 1,300 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the completion of the sale, the senior vice president directly owned 25,321 shares in the company, valued at $4,431,175. This represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 5,000 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the sale, the chief financial officer owned 61,319 shares of the company's stock, 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. In the last ninety days, insiders have sold 86,127 shares of company stock valued at $15,759,755. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler lifted their target price on Hershey from $160.00 to $167.00 and gave the company an "underweight" rating in a research report on Tuesday. DA Davidson lifted their target price on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Mizuho lifted their target price on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Barclays lifted their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of "Reduce" and an average price target of $171.22.

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.