Azimuth Capital Investment Management LLC Has $3.78 Million Stake in Hershey Company (The) $HSY

Key Points

• Azimuth Capital Investment Management LLC increased its stake in Hershey Company by 23.9%, owning 22,125 shares valued at approximately $3.78 million after acquiring an additional 4,265 shares in the first quarter.
• CEO Michele Buck sold 31,210 shares for around $5 million, reducing her position by 13.88%, while CFO Steven E. Voskuil also sold shares totaling $900,000.
• Hershey announced a quarterly dividend of $1.37 per share, representing an annualized dividend yield of 3.1% with a payout ratio of 72.78%.

Azimuth Capital Investment Management LLC boosted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 23.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,125 shares of the company's stock after buying an additional 4,265 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Hershey were worth $3,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in Hershey in the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Hershey during the 4th quarter worth $28,000. Proffitt & Goodson Inc. acquired a new position in shares of Hershey during the 1st quarter worth $28,000. Tradewinds Capital Management LLC increased its stake in shares of 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 purchasing an additional 101 shares during the last quarter. Finally, Fort Vancouver Investment Management LLC acquired a new position in Hershey in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

Shares of NYSE:HSY traded down $1.84 during midday trading on Thursday, reaching $179.75. 247,995 shares of the company's stock were exchanged, compared to its average volume of 1,838,451. The company's 50 day simple moving average is $175.87 and its two-hundred day simple moving average is $168.87. The firm has a market capitalization of $36.44 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 4.36 and a beta of 0.27. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. 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 (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $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 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HSY shares. Stifel Nicolaus raised their target price on shares of Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. DA Davidson raised their target price on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Mizuho raised their price target on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada decreased their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Fourteen equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Hershey has an average rating of "Reduce" and an average target price of $170.83.

Insider Activity

In related news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the completion of the transaction, the insider directly owned 38,068 shares of the company's stock, valued at $6,852,240. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the completion of the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock worth $20,931,348 over the last ninety days. 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.