Arnhold LLC Acquires 6,201 Shares of Hershey Company (The) $HSY

Key Points

• Arnhold LLC has increased its stake in Hershey Company by 85.2%, owning 13,480 shares now valued at approximately $2.31 million.
• Hershey recently announced strong quarterly earnings, reporting $1.21 EPS, surpassing estimates by $0.23, with revenue of $2.61 billion.
• The company declared a quarterly dividend of $1.37 per share, which will be paid on September 15, reflecting an annual yield of 3.1%.

Arnhold LLC lifted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 85.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,480 shares of the company's stock after buying an additional 6,201 shares during the period. Arnhold LLC's holdings in Hershey were worth $2,305,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of HSY. Trust Co. of Vermont grew its stake in shares of 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 period. Ignite Planners LLC boosted its holdings in shares of Hershey by 5.2% in the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock worth $214,000 after acquiring an additional 63 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Hershey by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock worth $1,229,000 after acquiring an additional 66 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Hershey by 0.9% in the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock worth $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% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock worth $473,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Trading Up 1.2%

HSY traded up $2.1160 during trading on Friday, reaching $181.4760. 1,110,298 shares of the company's stock were exchanged, compared to its average volume of 1,641,025. The company's fifty day moving average price is $176.26 and its 200-day moving average price is $169.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The firm has a market capitalization of $36.79 billion, a PE ratio of 24.10, a P/E/G ratio of 4.39 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, equities analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson boosted their target price on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein boosted their price objective on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Morgan Stanley boosted their price objective on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Fourteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Hershey currently has an average rating of "Reduce" and a consensus target price of $170.83.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rohit Grover sold 1,334 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 $240,120.00. Following the sale, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,311 shares of company stock valued at $20,931,348. 0.28% of the stock is owned by corporate insiders.

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.