Azimuth Capital Investment Management LLC Purchases 4,265 Shares of 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 grew its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 23.9% in the first quarter, according to 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 period. Azimuth Capital Investment Management LLC's holdings in Hershey were worth $3,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HSY. Rockefeller Capital Management L.P. grew its stake in shares of Hershey by 16.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 18,297 shares of the company's stock worth $3,100,000 after buying an additional 2,591 shares in the last quarter. Mariner LLC grew its stake in shares of Hershey by 0.3% in the 4th quarter. Mariner LLC now owns 73,058 shares of the company's stock worth $12,372,000 after buying an additional 208 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Hershey by 6.3% in the 4th quarter. Gabelli Funds LLC now owns 4,250 shares of the company's stock worth $720,000 after buying an additional 250 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Hershey by 36.8% in the 4th quarter. Insigneo Advisory Services LLC now owns 1,718 shares of the company's stock worth $291,000 after buying an additional 462 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Hershey by 5.6% in the 4th quarter. NewEdge Advisors LLC now owns 6,242 shares of the company's stock worth $1,057,000 after buying an additional 331 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Up 1.3%

Shares of HSY traded up $2.2380 during mid-day trading on Tuesday, hitting $180.6380. The company's stock had a trading volume of 1,496,299 shares, compared to its average volume of 1,852,241. The company's 50-day moving average is $175.60 and its 200-day moving average is $168.78. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The firm has a market capitalization of $36.62 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 4.29 and a beta of 0.27. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The company's revenue was up 26.0% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, equities research analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm 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 $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio is presently 72.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HSY shares. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Bank of America raised their target price on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Mizuho raised their target price on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Wells Fargo & Company raised their target price on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Sanford C. Bernstein raised their target price on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Fourteen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $168.83.

Insider Transactions at Hershey

In other news, insider Rohit Grover sold 1,334 shares of the company'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 owned 38,068 shares of the company's stock, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Mccalman sold 974 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer directly owned 2,994 shares of the company's stock, valued at $470,387.34. The trade was a 24.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,311 shares of company stock worth $20,931,348. Insiders own 0.28% of the company's stock.

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.