Elevate Capital Advisors LLC Acquires 3,921 Shares of Hershey Company (The) $HSY

Key Points

• Elevate Capital Advisors LLC increased its stake in Hershey Company by 27.8% during the second quarter, acquiring an additional 3,921 shares, bringing their total ownership to 18,026 shares valued at approximately $2.99 million.
• Hershey reported a quarterly earnings per share (EPS) of $1.21, significantly beating analysts' expectations of $0.98, and its revenue rose 26.0% year-over-year to $2.61 billion.
• The company announced a quarterly dividend of $1.37, representing an annualized dividend of 2.8% and a payout ratio of 72.78%.

Elevate Capital Advisors LLC lifted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 27.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,026 shares of the company's stock after buying an additional 3,921 shares during the quarter. Hershey makes up 2.4% of Elevate Capital Advisors LLC's holdings, making the stock its 9th largest position. Elevate Capital Advisors LLC's holdings in Hershey were worth $2,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Proffitt & Goodson Inc. acquired a new position in shares of Hershey during the first quarter valued at approximately $28,000. Tradewinds Capital Management LLC raised its holdings in shares of Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Fort Vancouver Investment Management LLC acquired a new position in shares of Hershey during the first quarter valued at approximately $34,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Hershey in the first quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Hershey in the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $195.04 on Friday. The business's fifty day moving average price is $185.47 and its two-hundred day moving average price is $173.15. The stock has a market cap of $39.54 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 4.57 and a beta of 0.26. 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 Company has a one year low of $140.13 and a one year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.23. The firm 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Insider Activity

In other news, insider Rohit Grover sold 1,334 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was 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 trade represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were 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 of the company's stock, valued at $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,704 shares of company stock worth $12,206,910 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

HSY has been the subject of a number of recent research reports. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. began coverage on Hershey in a research note on Wednesday, August 20th. They set a "neutral" rating and a $187.00 price objective for the company. DA Davidson upped their price objective on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Sanford C. Bernstein upped their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group raised Hershey from a "sell" rating to a "buy" rating and upped their price objective for the company from $170.00 to $222.00 in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $174.05.

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.

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