Allstate Corp Has $526,000 Stock Holdings in Hershey Company (The) $HSY

Key Points

• Allstate Corp reduced its holdings in Hershey Company by 31.3% in the first quarter, now owning 3,073 shares valued at approximately $526,000.
• Several institutional investors increased their stakes in Hershey, with Arnhold LLC raising its position by 85.2%, holding 13,480 shares valued at around $2.3 million.
• Hershey has announced a quarterly dividend of $1.37, resulting in a 3.0% yield, and a payout ratio of 72.78% is noted for its dividend policy.

Allstate Corp lessened its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 31.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,073 shares of the company's stock after selling 1,398 shares during the quarter. Allstate Corp's holdings in Hershey were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Trust Co. of Vermont lifted its stake in Hershey by 2.4% in the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after purchasing an additional 62 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Hershey by 5.2% in the first quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after acquiring an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Hershey by 0.9% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after acquiring an additional 66 shares during the period. Allworth Financial LP boosted its holdings in shares of Hershey by 0.9% during the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after acquiring an additional 67 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Hershey by 2.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after acquiring an additional 69 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Up 2.2%

HSY stock traded up $3.93 during midday trading on Friday, hitting $183.92. The stock had a trading volume of 1,108,713 shares, compared to its average volume of 1,818,374. The firm has a market cap of $37.28 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 4.40 and a beta of 0.27. 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 Company has a 1-year low of $140.13 and a 1-year high of $208.03. The business has a fifty day moving average price of $177.20 and a two-hundred day moving average price of $170.15.

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

Hershey Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HSY. Wells Fargo & Company raised their price objective on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. DA Davidson raised their price objective on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Piper Sandler raised their price objective on Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Bank of America increased their price objective on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Sanford C. Bernstein increased their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Fourteen research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Hershey presently has an average rating of "Reduce" and an average target price of $170.83.

Insider Activity

In related news, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $3,472,200.00. Following the transaction, the chief executive officer owned 193,624 shares in the company, valued at $34,852,320. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Following the completion of 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. Insiders have sold 86,127 shares of company stock worth $15,759,755 in the last three months. Corporate insiders own 0.34% 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.