Hershey Company (The) $HSY Shares Sold by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. substantially reduced its stake in Hershey Company by 78.3%, selling 79,872 shares, and now holds 22,178 shares valued at approximately $3,793,000.
• Several investment firms have increased their positions in Hershey, with Kovitz Investment Group Partners LLC seeing the most significant rise of 568.7%, totaling 38,867 shares worth $6,582,000.
• Hershey recently announced a quarterly dividend of $1.37 per share, reflecting an annualized yield of 3.0%, with a payout ratio currently at 72.78%.

Bahl & Gaynor Inc. lessened its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 78.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,178 shares of the company's stock after selling 79,872 shares during the period. Bahl & Gaynor Inc.'s holdings in Hershey were worth $3,793,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Hershey by 47.1% in the 4th quarter. Marshall Wace LLP now owns 19,441 shares of the company's stock valued at $3,292,000 after buying an additional 6,226 shares during the period. MML Investors Services LLC grew its position in Hershey by 1.4% in the 4th quarter. MML Investors Services LLC now owns 23,622 shares of the company's stock valued at $4,000,000 after acquiring an additional 320 shares in the last quarter. Dark Forest Capital Management LP grew its position in Hershey by 20.9% in the 4th quarter. Dark Forest Capital Management LP now owns 2,590 shares of the company's stock valued at $439,000 after acquiring an additional 448 shares in the last quarter. MGO One Seven LLC increased its stake in Hershey by 30.5% during the fourth quarter. MGO One Seven LLC now owns 2,718 shares of the company's stock worth $460,000 after purchasing an additional 636 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Hershey by 568.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 38,867 shares of the company's stock worth $6,582,000 after purchasing an additional 33,055 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the sale, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $37,563,056. This represents a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 61,319 shares in the company, valued at approximately $11,037,420. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 118,311 shares of company stock worth $20,931,348. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HSY shares. Bank of America lifted their price objective on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. started coverage on shares of Hershey in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 price target for the company. Sanford C. Bernstein increased their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada decreased their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley upped their price target on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $170.83.

Hershey Stock Up 1.5%

Shares of NYSE:HSY traded up $2.68 during trading on Tuesday, hitting $183.36. 1,325,798 shares of the company were exchanged, compared to its average volume of 1,620,437. The firm's 50 day moving average price is $176.75 and its 200-day moving average price is $169.89. 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 current ratio of 1.53 and a quick ratio of 0.89. The stock has a market capitalization of $37.17 billion, a P/E ratio of 24.35, a PEG ratio of 4.38 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $1.27 EPS. The company's revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued 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 payout ratio is presently 72.78%.

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.