AlTi Global Inc. Invests $2.61 Million in Hershey Company (The) $HSY

Key Points

• AlTi Global Inc. invested approximately $2.61 million in Hershey Company, acquiring 15,250 shares during the first quarter.
• Insider transactions saw CEO Michele Buck and SVP James Turoff selling significant amounts of stock, indicating a 9.06% and 4.88% decrease in their respective positions.
• Hershey announced a quarterly dividend of $1.37 per share with a yield of 3.0%, demonstrating the company's ongoing commitment to return value to shareholders.

AlTi Global Inc. bought a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,250 shares of the company's stock, valued at approximately $2,608,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in Hershey during the 4th quarter worth $25,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the 4th quarter worth $28,000. Proffitt & Goodson Inc. bought a new position in Hershey during the 1st quarter worth $28,000. Tradewinds Capital Management LLC increased its stake in Hershey by 129.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after acquiring an additional 101 shares during the period. Finally, Fort Vancouver Investment Management LLC bought a new position in Hershey during the 1st quarter worth $34,000. Institutional investors own 57.96% of the company's stock.

Insider Transactions at Hershey

In related news, SVP James Turoff sold 1,300 shares of the business'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 sale, the senior vice president owned 25,321 shares in the company, valued at $4,431,175. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the sale, the chief executive officer owned 193,624 shares in the company, valued at $37,563,056. This represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,127 shares of company stock worth $15,759,755. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HSY shares. Bank of America raised their price objective on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Sanford C. Bernstein raised their price objective on Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. DA Davidson raised their price objective on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. started coverage on Hershey in a report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 target price on the stock. Finally, Mizuho raised their target price on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Fourteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $170.83.

Hershey Trading Down 0.5%

NYSE HSY opened at $184.87 on Thursday. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.27. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The business's fifty day moving average is $178.27 and its 200 day moving average is $170.86.

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

Hershey Dividend Announcement

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

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.

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