Belpointe Asset Management LLC Cuts Holdings in Hershey Company (The) $HSY

Key Points

• Belpointe Asset Management LLC reduced its holdings in Hershey Company by 75.5%, selling 8,050 shares and retaining 2,613 shares worth $447,000.
• Hershey reported a 26% increase in quarterly revenue year-over-year, totaling $2.61 billion, and beating consensus earnings expectations by $0.23 per share.
• A quarterly dividend of $1.37 per share has been declared, resulting in a 3.0% dividend yield for shareholders.

Belpointe Asset Management LLC lessened its position in Hershey Company (The) (NYSE:HSY - Free Report) by 75.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,613 shares of the company's stock after selling 8,050 shares during the quarter. Belpointe Asset Management LLC's holdings in Hershey were worth $447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kennon Green & Company LLC grew its stake in Hershey by 33.3% during the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after purchasing an additional 10,784 shares in the last quarter. William Allan Corp grew its stake in Hershey by 173.1% during the 1st quarter. William Allan Corp now owns 18,593 shares of the company's stock worth $3,180,000 after purchasing an additional 11,785 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Hershey by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after purchasing an additional 2,757 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Hershey by 8.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Hershey during the 1st quarter worth $55,269,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

NYSE HSY traded up $0.95 during mid-day trading on Friday, hitting $190.03. The stock had a trading volume of 3,209,098 shares, compared to its average volume of 1,174,208. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The company has a market cap of $38.52 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 4.57 and a beta of 0.27. The company has a 50 day simple moving average of $182.59 and a 200 day simple moving average of $172.24. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY - Get Free Report) last announced 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. The firm had revenue of $2.61 billion for 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%.Hershey's quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities analysts forecast 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. Shareholders of record on Friday, August 15th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Hershey's dividend payout ratio is 72.78%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HSY. Piper Sandler upped their price objective on Hershey from $160.00 to $167.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 9th. BNP Paribas Exane raised Hershey from a "neutral" rating to an "outperform" rating in a research report on Monday. Morgan Stanley upped their price objective on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Bank of America upped their price objective on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Hershey presently has a consensus rating of "Reduce" and a consensus target price of $173.89.

Insider Buying and Selling

In other Hershey news, insider Rohit Grover sold 1,334 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $240,120.00. Following the sale, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James Turoff sold 1,300 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president owned 25,321 shares in the company, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,627 shares of company stock worth $16,043,435 in the last 90 days. Corporate insiders own 0.34% 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.