Axxcess Wealth Management LLC Sells 1,530 Shares of Hershey Company (The) $HSY

Key Points

• Axxcess Wealth Management LLC sold 1,530 shares of Hershey Company, reducing its stake by 8.0% to 17,630 shares, worth approximately $2.93 million.
• Hershey reported $1.21 earnings per share for the last quarter, exceeding analysts' estimates of $0.98, and its revenue grew by 26.0% year-over-year.
• The company announced a quarterly dividend of $1.37 per share, with a dividend payout ratio of 72.78%, highlighting its commitment to returning value to shareholders.

Axxcess Wealth Management LLC lessened its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,630 shares of the company's stock after selling 1,530 shares during the quarter. Axxcess Wealth Management LLC's holdings in Hershey were worth $2,926,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Proffitt & Goodson Inc. purchased a new position in Hershey during the 1st quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Hershey in the 2nd quarter worth approximately $28,000. Tradewinds Capital Management LLC boosted its holdings in shares of Hershey by 129.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after purchasing an additional 101 shares during the period. Fort Vancouver Investment Management LLC purchased a new position in shares of Hershey in the 1st quarter worth approximately $34,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Hershey in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Up 0.2%

Shares of NYSE HSY opened at $189.64 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. The stock has a market capitalization of $38.44 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.57 and a beta of 0.26. 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 $186.16 and a 200 day moving average price of $174.40.

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 firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The firm's quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Analyst Ratings Changes

HSY has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Hershey from $154.00 to $157.00 and gave the stock an "underweight" rating in a report on Thursday, September 25th. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays raised their price target on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. UBS Group raised their price target on Hershey from $192.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price target on Hershey from $160.00 to $167.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $175.89.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $189.12, for a total transaction of $283,680.00. Following the sale, the chief financial officer directly owned 58,319 shares of the company's stock, valued at $11,029,289.28. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider directly 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. Insiders have sold a total of 65,704 shares of company stock valued at $12,206,910 over the last ninety days. Company insiders own 0.28% 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.

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