Bridges Investment Management Inc. Has $10.77 Million Stock Holdings in Hershey Company (The) $HSY

Key Points

• Bridges Investment Management Inc. reduced its holdings in Hershey Company by 3.5%, now owning 64,883 shares valued at approximately $10.77 million.
• Institutional investors hold 57.96% of Hershey's stock, with several funds increasing their stakes significantly in the second quarter.
• Hershey announced a quarterly dividend of $1.37 per share, with a yield of 2.9% and a payout ratio of 72.78%.

Bridges Investment Management Inc. decreased its position in Hershey Company (The) (NYSE:HSY - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,883 shares of the company's stock after selling 2,374 shares during the period. Bridges Investment Management Inc.'s holdings in Hershey were worth $10,767,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kennon Green & Company LLC raised its stake in shares of Hershey by 2.9% in the second quarter. Kennon Green & Company LLC now owns 44,389 shares of the company's stock valued at $7,804,000 after purchasing an additional 1,243 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Hershey by 11.1% in the 2nd quarter. Ritholtz Wealth Management now owns 2,185 shares of the company's stock valued at $363,000 after buying an additional 219 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Hershey by 11.3% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,194 shares of the company's stock worth $862,000 after acquiring an additional 528 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Hershey by 8.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,948 shares of the company's stock valued at $987,000 after acquiring an additional 439 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in Hershey by 21.0% in the second quarter. MGO One Seven LLC now owns 6,562 shares of the company's stock valued at $1,089,000 after acquiring an additional 1,139 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was 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 directly owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $3,472,200.00. Following the completion of the sale, the chief executive officer owned 193,624 shares in the company, valued at $34,852,320. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,704 shares of company stock worth $12,206,910. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lifted their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Piper Sandler boosted their price target on Hershey from $160.00 to $167.00 and gave the company an "underweight" rating in a research note on Tuesday, September 9th. UBS Group increased their price objective on Hershey from $192.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $175.89.

Hershey Stock Performance

Hershey stock opened at $191.30 on Thursday. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company's 50-day moving average is $186.22 and its two-hundred day moving average is $174.51. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The company has a market cap of $38.78 billion, a PE ratio of 25.40, a PEG ratio of 4.58 and a beta of 0.26.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating 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 business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $1.27 earnings per share. Hershey'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. Equities analysts anticipate that Hershey Company will post 6.12 earnings per share for the current 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 paid a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey's dividend 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.

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