Hershey Company (The) (NYSE:HSY) Shares Sold by Davis R M Inc.

Key Points

• Davis R M Inc. reduced its holdings in Hershey Company by 44.7% in the first quarter, now owning shares worth approximately $5.79 million.
• Other institutional investors such as Capital International Investors and GAMMA Investing LLC significantly increased their stakes in Hershey, with GAMMA's holdings rising by over 18,311%.
• Hershey reported a 26.0% increase in year-over-year revenue for the latest quarter, with earnings per share at $1.21, exceeding analysts' expectations.

Davis R M Inc. reduced its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,872 shares of the company's stock after selling 27,337 shares during the quarter. Davis R M Inc.'s holdings in Hershey were worth $5,793,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Montag & Caldwell LLC purchased a new stake in shares of Hershey during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey during the 4th quarter valued at about $25,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Hershey during the 4th quarter valued at about $28,000. Proffitt & Goodson Inc. purchased a new stake in shares of Hershey during the 1st quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of Hershey by 129.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after buying an additional 101 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hershey

In other news, CEO Michele Buck sold 19,290 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares of the company's stock, valued at approximately $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer directly owned 2,994 shares of the company's stock, valued at approximately $470,387.34. The trade was a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,311 shares of company stock valued at $20,931,348 over the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America raised their target price on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday. Mizuho upped their target price on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Piper Sandler upped their target price on Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a research report on Thursday. Citigroup cut their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, UBS Group cut their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Hershey presently has an average rating of "Hold" and an average price target of $168.37.

Hershey Stock Performance

NYSE HSY traded up $2.57 during trading hours on Friday, hitting $188.70. The company had a trading volume of 2,072,840 shares, compared to its average volume of 1,902,214. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $170.58 and a 200-day simple moving average of $166.11. The firm has a market cap of $38.23 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 4.49 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.27 earnings per share. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. Equities analysts predict that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey's dividend payout ratio (DPR) is currently 72.78%.

About Hershey

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.