Cim LLC Grows Stock Holdings in Hershey Company (The) $HSY

Key Points

• Cim LLC increased its Hershey position by 51.6% in the first quarter, bringing its holdings to 19,292 shares valued at approximately $4.0 million. Institutional investors and hedge funds collectively own 57.96% of HSY.
• Hershey reported quarterly earnings of $2.35 per share, beating estimates of $2.04, while revenue rose 10.7% year over year to $3.10 billion. The stock opened at $183.96, below its 12-month high of $239.48.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $208.28; concerns include weak North American consumption and potential pressure on second-quarter revenue.

Cim LLC increased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 51.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,292 shares of the company's stock after purchasing an additional 6,567 shares during the period. Cim LLC's holdings in Hershey were worth $4,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HSY. Norges Bank purchased a new position in shares of Hershey in the 4th quarter valued at about $272,506,000. Marshall Wace LLP boosted its holdings in Hershey by 546.6% in the fourth quarter. Marshall Wace LLP now owns 1,057,476 shares of the company's stock valued at $192,439,000 after purchasing an additional 893,940 shares in the last quarter. First Trust Advisors LP increased its stake in Hershey by 315.4% in the first quarter. First Trust Advisors LP now owns 1,083,675 shares of the company's stock valued at $225,285,000 after purchasing an additional 822,772 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Hershey by 150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company's stock valued at $232,731,000 after purchasing an additional 767,478 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Hershey by 4,478.5% during the fourth quarter. Pacer Advisors Inc. now owns 586,141 shares of the company's stock worth $106,666,000 after purchasing an additional 573,339 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group set a $240.00 price objective on shares of Hershey in a research report on Friday, May 1st. Barclays cut their price target on shares of Hershey from $220.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $204.00 to $191.00 and set a "neutral" rating for the company in a research report on Monday, July 13th. BTIG Research assumed coverage on Hershey in a research report on Monday, April 13th. They set a "neutral" rating on the stock. Finally, Zacks Research downgraded Hershey from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $208.28.

Hershey Stock Up 0.3%

HSY stock opened at $183.96 on Thursday. The company has a market cap of $37.31 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 1.14 and a beta of 0.11. The company has a fifty day moving average price of $179.81 and a 200 day moving average price of $196.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey Company has a 12 month low of $161.43 and a 12 month high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. Hershey's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.09 EPS. Sell-side analysts expect that Hershey Company will post 8.42 earnings per share for the current year.

Key Headlines Impacting Hershey

Here are the key news stories impacting Hershey this week:

• Positive Sentiment: Hershey’s REESE’S OREO Cup is being promoted as one of the candy category’s most successful recent innovations. The anniversary campaign could support brand engagement, product momentum and seasonal sales. REESE'S OREO anniversary campaign
• Positive Sentiment: New Hershey and Morning Consult research suggests consumers are starting Halloween shopping and celebrations earlier, potentially creating more occasions for candy purchases and extending the seasonal selling period. Hershey Halloween consumer insights
• Neutral Sentiment: Investors are focused on Thursday’s second-quarter report. Expectations call for modest revenue growth, while analysts will likely scrutinize North American confectionery volumes, pricing, margins and management’s outlook. Hershey Q2 earnings preview
• Neutral Sentiment: The CFO’s sale of 1,500 shares worth $255,000 was conducted under a pre-arranged Rule 10b5-1 plan. Because the executive retains more than $9 million in Hershey equity, the transaction is generally a limited signal about company fundamentals. Hershey CFO insider sale
• Negative Sentiment: RBC Capital Markets expects Hershey to miss second-quarter revenue estimates because of weak North American consumption data. The report reinforces downside risk to near-term sales and guidance. RBC Hershey revenue estimate
• Negative Sentiment: Analyst sentiment remains cautious: Stifel cut its price target to $180 with a hold rating, while Mizuho previously reduced its target to $185. The overall consensus rating remains “Hold,” suggesting valuation and demand concerns are still significant. Hershey analyst ratings

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $170.00, for a total value of $255,000.00. Following the transaction, the chief financial officer owned 53,195 shares in the company, valued at $9,043,150. The trade was a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

Hershey Company Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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