Fifth Third Bancorp Increases Stock Position in Hershey Company (The) $HSY

Key Points

• Fifth Third Bancorp increased its stake in Hershey Company by 47.2% during the second quarter, owning 45,223 shares valued at approximately $7.5 million.
• Hershey recently reported a quarterly earnings per share (EPS) of $1.21, surpassing estimates of $0.98, with a revenue increase of 26% year-over-year.
• The company declared a quarterly dividend of $1.37 per share, representing a 3.0% dividend yield and a payout ratio of 72.78%.

Fifth Third Bancorp grew its position in Hershey Company (The) (NYSE:HSY - Free Report) by 47.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,223 shares of the company's stock after purchasing an additional 14,510 shares during the period. Fifth Third Bancorp's holdings in Hershey were worth $7,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. Proffitt & Goodson Inc. bought a new position in Hershey during the first quarter valued at about $28,000. Tradewinds Capital Management LLC grew its position in 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 buying an additional 101 shares during the period. Fort Vancouver Investment Management LLC bought a new position in Hershey during the first quarter valued at about $34,000. MorganRosel Wealth Management LLC bought a new position in Hershey during the first quarter valued at about $35,000. Finally, Wood Tarver Financial Group LLC bought a new position in Hershey during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

HSY stock opened at $185.34 on Friday. The firm has a 50 day moving average of $184.52 and a 200-day moving average of $172.46. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. 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 $37.57 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 4.61 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the business earned $1.27 earnings per share. Hershey's revenue was up 26.0% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, sell-side analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

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

Insider Buying and Selling at Hershey

In other Hershey news, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $3,472,200.00. Following the transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at approximately $34,852,320. This trade represents a 9.06% decrease in their ownership of the stock. 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 Hershey stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $240,120.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 87,627 shares of company stock valued at $16,043,435. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HSY shares. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. DA Davidson increased their target price on shares of Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Barclays increased their target price on shares of Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Morgan Stanley increased their target price on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Mizuho increased their target price on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Hershey presently has a consensus rating of "Reduce" and a consensus price target of $174.05.

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.

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.