Cresset Asset Management LLC Boosts Stake in Hershey Company (The) $HSY

Key Points

• Cresset Asset Management LLC increased its stake in Hershey Company by 52.4%, holding 35,237 shares valued at approximately $6.03 million as of their latest SEC filing.
• Multiple analysts have raised their price targets for Hershey stock, with Bank of America setting the highest target at $208.00, while the average price target stands at $168.83.
• Hershey recently declared a quarterly dividend of $1.37 per share, with a dividend yield of 3.1%, and a payout ratio of 72.78%.

Cresset Asset Management LLC lifted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 52.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,237 shares of the company's stock after acquiring an additional 12,115 shares during the quarter. Cresset Asset Management LLC's holdings in Hershey were worth $6,027,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont raised its holdings in shares of Hershey by 2.4% during the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after buying an additional 62 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Hershey by 5.2% during the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after buying an additional 63 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of Hershey by 0.9% during the 1st 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 in the last quarter. Allworth Financial LP raised its holdings in shares of Hershey by 0.9% during the 1st 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 in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of Hershey by 2.6% during the 1st 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 in the last quarter. Institutional investors own 57.96% of the company's stock.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares in the company, valued at approximately $37,563,056. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the transaction, the chief financial officer owned 61,319 shares of the company's stock, valued at $11,037,420. The trade was a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock valued at $20,931,348 over the last ninety days. Insiders own 0.34% of the company's stock.

Hershey Trading Up 1.2%

Shares of HSY stock traded up $2.1160 during trading hours on Friday, reaching $181.4760. The company's stock had a trading volume of 770,477 shares, compared to its average volume of 1,837,286. The stock has a market capitalization of $36.79 billion, a P/E ratio of 24.10, a P/E/G ratio of 4.38 and a beta of 0.27. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The firm's fifty day simple moving average is $176.01 and its 200 day simple moving average is $169.08. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share 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 analyst estimates of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The business's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities research analysts expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 annualized dividend and a dividend yield of 3.0%. Hershey's payout ratio is currently 72.78%.

Analyst Ratings Changes

HSY has been the topic of a number of research reports. Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley raised their price objective on Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Bank of America lifted their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Piper Sandler lifted their price target on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Finally, Mizuho lifted their price target on Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Fourteen analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target 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.