DoubleLine ETF Adviser LP Has $1.17 Million Stock Holdings in Hershey Company (The) $HSY

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Hershey Company by 19.1%, selling 1,607 shares, leaving it with a total of 6,817 shares valued at approximately $1,166,000.
• Hershey reported earnings per share of $1.21 for the last quarter, exceeding analyst expectations of $0.98, along with a significant revenue increase of 26.0% year-over-year, totaling $2.61 billion.
• The company announced a quarterly dividend of $1.37 per share, leading to an annualized dividend yield of 3.0%, with a payout ratio of 72.78%.

DoubleLine ETF Adviser LP lessened its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 19.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,817 shares of the company's stock after selling 1,607 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Hershey were worth $1,166,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont boosted its holdings in 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 purchasing an additional 62 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of Hershey by 5.2% during the first quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after acquiring an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Hershey by 0.9% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after acquiring an additional 66 shares during the period. Allworth Financial LP raised its stake in shares of Hershey by 0.9% during the first quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after purchasing an additional 67 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Hershey by 2.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Up 0.2%

Shares of NYSE:HSY traded up $0.34 during trading on Tuesday, hitting $187.87. 451,008 shares of the company's stock traded hands, compared to its average volume of 1,791,283. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The company has a market cap of $38.08 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.49 and a beta of 0.27. The company has a 50-day moving average price of $179.44 and a 200-day moving average price of $171.40.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, research analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Hershey in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 price target on the stock. Bank of America raised their price target on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus increased 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. Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Sanford C. Bernstein raised their price objective on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Fourteen research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $171.22.

Insider Buying and Selling

In other news, SVP James Turoff sold 1,300 shares of the company'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 sale, the senior vice president owned 25,321 shares in the company, valued at $4,431,175. This represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $37,563,056. This represents a 9.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,127 shares of company stock worth $15,759,755. 0.28% of the stock is currently owned by company insiders.

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.