Baird Financial Group Inc. Raises Stake in Hershey Company (The) $HSY

Key Points

• Baird Financial Group Inc. increased its holdings in Hershey Company by 4.9%, owning 43,114 shares valued at approximately $7.37 million as of the latest SEC filing.
• Hershey's Q2 earnings exceeded analysts' expectations with an EPS of $1.21 against a consensus estimate of $0.98, and the company reported significant year-over-year revenue growth of 26%.
• The company announced a quarterly dividend of $1.37 per share, equating to an annualized yield of 3.0%, with a payout ratio of 72.78%.

Baird Financial Group Inc. boosted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 43,114 shares of the company's stock after purchasing an additional 2,025 shares during the period. Baird Financial Group Inc.'s holdings in Hershey were worth $7,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HSY. GAMMA Investing LLC grew its position in Hershey by 18,311.7% during the 1st quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after purchasing an additional 1,005,127 shares during the last quarter. Pacer Advisors Inc. grew its position in Hershey by 6,721.3% during the 1st quarter. Pacer Advisors Inc. now owns 819,446 shares of the company's stock worth $140,150,000 after purchasing an additional 807,433 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Hershey by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock worth $853,720,000 after purchasing an additional 356,249 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Hershey in the first quarter valued at about $55,269,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Down 0.5%

HSY stock opened at $184.87 on Thursday. The company has a market cap of $37.48 billion, a P/E ratio of 24.55, a P/E/G ratio of 4.45 and a beta of 0.27. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The company's 50-day moving average price is $178.27 and its 200 day moving average price is $170.86. 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 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 firm had revenue of $2.61 billion for 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 was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts expect that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

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 given a dividend of $1.37 per share. The ex-dividend date is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. Hershey's payout ratio is presently 72.78%.

Analysts Set New Price Targets

HSY has been the topic of several analyst reports. Mizuho lifted their target price on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Stifel Nicolaus lifted their target price on shares of Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Sanford C. Bernstein lifted their target price on shares of Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. DA Davidson lifted their target price on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Fourteen research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Hershey presently has a consensus rating of "Reduce" and an average target price of $170.83.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 5,000 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 $900,000.00. Following the completion of the transaction, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the transaction, the senior vice president owned 25,321 shares of the company's stock, valued at approximately $4,431,175. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,127 shares of company stock worth $15,759,755. 0.28% of the stock is currently owned by insiders.

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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