Cyndeo Wealth Partners LLC Purchases New Holdings in Hershey Company (The) $HSY

Key Points

• Cyndeo Wealth Partners LLC acquired a new stake in Hershey Company during Q2, purchasing 38,608 shares valued at approximately $6.4 million.
• Analysts have recently raised their target prices for Hershey's stock, with Barclays setting a new target of $190.00, reflecting positive sentiment among investor reports.
• Hershey announced a quarterly dividend of $1.37, resulting in a yield of 2.8%, with a reported payout ratio of 72.78%.

Cyndeo Wealth Partners LLC purchased a new stake in Hershey Company (The) (NYSE:HSY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,608 shares of the company's stock, valued at approximately $6,407,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Hershey by 30.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,953 shares of the company's stock valued at $1,486,000 after purchasing an additional 2,106 shares in the last quarter. Stonebridge Financial Group LLC grew its holdings in Hershey by 6.9% during the 2nd quarter. Stonebridge Financial Group LLC now owns 4,189 shares of the company's stock worth $695,000 after acquiring an additional 270 shares during the period. Callan Family Office LLC grew its holdings in Hershey by 65.5% during the 2nd quarter. Callan Family Office LLC now owns 3,913 shares of the company's stock worth $649,000 after acquiring an additional 1,549 shares during the period. US Bancorp DE grew its holdings in Hershey by 1.1% during the 2nd quarter. US Bancorp DE now owns 402,266 shares of the company's stock worth $66,756,000 after acquiring an additional 4,484 shares during the period. Finally, AMI Investment Management Inc. grew its holdings in Hershey by 1.4% during the 2nd quarter. AMI Investment Management Inc. now owns 12,434 shares of the company's stock worth $2,063,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Analyst Ratings Changes

HSY has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their target price on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. DA Davidson lifted their target price on shares of Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Mizuho lifted their target price on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Barclays lifted their target price on shares of Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus lifted 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 investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Hershey has an average rating of "Reduce" and an average target price of $175.89.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $189.12, for a total value of $283,680.00. Following the sale, the chief financial officer directly owned 58,319 shares of the company's stock, valued at approximately $11,029,289.28. The trade was a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the business's stock in a transaction 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 sale, the insider directly owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,704 shares of company stock valued at $12,206,910. 0.34% of the stock is owned by corporate insiders.

Hershey Price Performance

Shares of HSY stock opened at $192.29 on Friday. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The firm has a market capitalization of $38.98 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 4.72 and a beta of 0.26. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average of $186.10 and a 200-day moving average of $173.91.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) 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 company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The firm's revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, equities research analysts forecast that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. Hershey's payout ratio is currently 72.78%.

Hershey Company 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.

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