Comerica Bank Increases Stock Position in Hershey Company (The) $HSY

Key Points

• Comerica Bank increased its stake in Hershey Company by 10.5%, now owning 55,667 shares worth approximately $9.5 million after acquiring an additional 5,291 shares.
• Hershey announced a quarterly dividend of $1.37 per share, with a dividend yield of 3.0%, scheduled to be paid on September 15th to stockholders of record.
• The company reported $1.21 earnings per share (EPS) for the last quarter, exceeding expectations and reflecting a 26.0% year-over-year revenue increase.

Comerica Bank increased its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,667 shares of the company's stock after acquiring an additional 5,291 shares during the period. Comerica Bank's holdings in Hershey were worth $9,521,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Trust Co. of Vermont raised its stake in shares of Hershey by 2.4% in the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after acquiring an additional 62 shares in the last quarter. Ignite Planners LLC increased its holdings in Hershey by 5.2% in the first quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after buying an additional 63 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its holdings in Hershey by 0.9% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after buying an additional 66 shares during the last quarter. Allworth Financial LP increased its holdings in Hershey by 0.9% in the first quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after buying an additional 67 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Hershey by 2.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after buying an additional 69 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of NYSE HSY traded up $3.93 during midday trading on Friday, reaching $183.92. 1,108,713 shares of the company were exchanged, compared to its average volume of 1,422,811. 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 Company has a 1 year low of $140.13 and a 1 year high of $208.03. The stock has a fifty day simple moving average of $177.44 and a 200 day simple moving average of $170.33. The stock has a market cap of $37.28 billion, a P/E ratio of 24.42, a PEG ratio of 4.36 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data 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 during 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% compared to the same quarter last year. During the same quarter last 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 forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 15th. Hershey's dividend payout ratio (DPR) is presently 72.78%.

Insider Activity at Hershey

In other news, insider Rohit Grover sold 1,334 shares of the firm's 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 $240,120.00. Following the completion of the transaction, the insider directly owned 38,068 shares of the company's stock, valued at $6,852,240. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James Turoff sold 1,300 shares of the firm's stock in a transaction that occurred on 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 directly owned 25,321 shares of the company's stock, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,127 shares of company stock valued at $15,759,755 in the last 90 days. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America increased their target price on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. UBS Group dropped their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Piper Sandler raised their price objective on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price objective on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $170.83.

Hershey 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.