Atria Wealth Solutions Inc. Lowers Stock Position in Hershey Company (The) (NYSE:HSY)

Key Points

• Atria Wealth Solutions Inc. decreased its position in Hershey Company by 14.9% in the first quarter, now holding 23,267 shares valued at approximately $3,979,000.
• Hershey reported a Q2 earnings per share of $1.21, exceeding estimates by $0.23, with revenues of $2.61 billion, a 26.0% increase year-over-year.
• The company recently declared a quarterly dividend of $1.37 per share, yielding 2.9%, with a dividend payout ratio of 72.78%.

Atria Wealth Solutions Inc. decreased its position in Hershey Company (The) (NYSE:HSY - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,267 shares of the company's stock after selling 4,075 shares during the period. Atria Wealth Solutions Inc.'s holdings in Hershey were worth $3,979,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Trust Co. of Vermont raised its holdings in Hershey by 2.4% in the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock worth $460,000 after purchasing an additional 62 shares during the period. Ignite Planners LLC raised its stake in shares of Hershey by 5.2% during the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock worth $214,000 after buying an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Hershey by 0.9% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after buying an additional 66 shares in the last quarter. Allworth Financial LP grew its stake in Hershey by 0.9% in 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 during the period. Finally, Fifth Third Wealth Advisors LLC increased its holdings in 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 and hedge funds own 57.96% of the company's stock.

Hershey Trading Down 0.7%

Shares of HSY opened at $187.34 on Friday. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The firm has a market capitalization of $37.96 billion, a P/E ratio of 24.88, a P/E/G ratio of 4.55 and a beta of 0.27. The firm has a 50-day moving average price of $172.54 and a 200 day moving average price of $166.86. 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 posted its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The company 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 was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. Sell-side analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey's dividend payout ratio (DPR) is 72.78%.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the sale, the chief financial officer directly owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rohit Grover sold 1,334 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $240,120.00. Following the transaction, the insider directly owned 38,068 shares of the company's stock, valued at approximately $6,852,240. This trade represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,311 shares of company stock valued at $20,931,348 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on HSY. Royal Bank Of Canada decreased their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Barclays lifted their price objective on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Sanford C. Bernstein boosted 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. Bank of America raised their target price on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, DA Davidson boosted their price target on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $169.68.

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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