Dakota Wealth Management Lowers Holdings in Hershey Company (The) $HSY

Key Points

• Dakota Wealth Management reduced its stake in Hershey Company by 6.6% in Q2, owning 29,649 shares worth approximately $4.92 million after selling 2,103 shares during the quarter.
• Hershey Company reported $1.21 EPS for the last quarter, exceeding estimates by $0.23, and its revenue increased by 26.0% year-over-year to $2.61 billion.
• The company recently announced a quarterly dividend of $1.37 per share, reflecting a 3.0% yield, with a dividend payout ratio of 72.78%.

Dakota Wealth Management lessened its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,649 shares of the company's stock after selling 2,103 shares during the quarter. Dakota Wealth Management's holdings in Hershey were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Fulton Bank N.A. raised its position in shares of Hershey by 4.9% in the 2nd quarter. Fulton Bank N.A. now owns 1,312 shares of the company's stock worth $218,000 after purchasing an additional 61 shares during the last quarter. Trust Co. of Vermont increased its holdings in Hershey by 2.4% in the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock worth $460,000 after buying an additional 62 shares in the last quarter. Ignite Planners LLC increased its holdings in Hershey by 5.2% in the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock worth $214,000 after buying an additional 63 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. increased its holdings in Hershey by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock worth $1,229,000 after buying an additional 66 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Hershey by 0.9% in the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock worth $1,179,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Down 2.9%

Hershey stock opened at $185.34 on Friday. The stock has a market cap of $37.57 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 4.61 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 stock has a 50-day moving average of $184.52 and a two-hundred day moving average of $172.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping the consensus estimate 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%.Hershey's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Hershey's dividend payout ratio (DPR) is 72.78%.

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was 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. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the completion of the sale, the senior vice president directly owned 25,321 shares in the company, valued at approximately $4,431,175. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,627 shares of company stock valued at $16,043,435 in the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HSY has been the subject of several research analyst reports. Barclays lifted their price objective on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. 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. Morgan Stanley boosted their price target on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. The Goldman Sachs Group raised Hershey from a "sell" rating to a "buy" rating and upped their price objective for the stock from $170.00 to $222.00 in a report on Tuesday, September 16th. Finally, BNP Paribas Exane raised Hershey from a "neutral" rating to an "outperform" rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $174.05.

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.

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Company (The) (NYSE:HSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.