Hershey Company (The) (NYSE:HSY) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its holdings in Hershey Company by 5.0%, selling 1,500 shares to end with 28,500 shares valued at approximately $4.87 million.
• Hershey reported earnings of $1.21 per share for the latest quarter, exceeding estimates by $0.23, with revenues reaching $2.61 billion, up 26% year-over-year.
• The company declared a quarterly dividend of $1.37 per share, giving it an annualized yield of 3.0% and a payout ratio of 72.78%.

Forsta AP Fonden lessened its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,500 shares of the company's stock after selling 1,500 shares during the quarter. Forsta AP Fonden's holdings in Hershey were worth $4,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag & Caldwell LLC acquired a new stake in Hershey during the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new position in shares of Hershey during the 4th quarter worth $25,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Hershey during the 4th quarter worth $28,000. Proffitt & Goodson Inc. purchased a new position in shares of Hershey during the 1st quarter worth $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 worth $31,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Buying and Selling at Hershey

In other news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer directly owned 2,994 shares of the company's stock, valued at approximately $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Piper Sandler lifted their price target on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Morgan Stanley lifted 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. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Bank of America lifted their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $168.83.

Hershey Stock Down 1.0%

HSY traded down $1.72 during trading hours on Friday, hitting $177.17. 351,461 shares of the company's stock were exchanged, compared to its average volume of 1,852,535. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The firm has a 50 day moving average of $174.80 and a 200 day moving average of $168.05. The firm has a market cap of $35.92 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 4.34 and a beta of 0.27. 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 (NYSE:HSY - Get Free Report) last announced 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 net margin of 13.54% and a return on equity of 37.36%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $1.27 EPS. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. Analysts predict 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.1%. Hershey's payout ratio is currently 72.78%.

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.