Franklin Street Advisors Inc. NC Buys New Position in Hershey Company (The) $HSY

Key Points

• Franklin Street Advisors Inc. recently acquired 1,975 shares of Hershey Company, valued at approximately $328,000, during the 2nd quarter, marking a significant investment by the institutional investor.
• Analysts have increased their price targets for Hershey, with Barclays setting a new target at $190.00 and Bank of America at $208.00, reflecting optimistic growth expectations for the company.
• The Hershey Company declared a quarterly dividend of $1.37 per share, with an annualized basis of $5.48, demonstrating a yield of 2.8% and a payout ratio of 72.78%.

Franklin Street Advisors Inc. NC bought a new stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,975 shares of the company's stock, valued at approximately $328,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. bought a new stake in Hershey during the 1st quarter valued at approximately $28,000. Tradewinds Capital Management LLC boosted its stake in 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 purchasing an additional 101 shares during the period. Fort Vancouver Investment Management LLC bought a new stake in Hershey during the 1st quarter valued at approximately $34,000. MorganRosel Wealth Management LLC bought a new stake in Hershey during the 1st quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT bought a new stake in Hershey during the 1st quarter valued at approximately $36,000. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays increased their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. started coverage on Hershey in a report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 price target for the company. Sanford C. Bernstein upped their price target on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Morgan Stanley upped their price target on Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Bank of America upped their price target on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $174.05.

Insider Buying and Selling

In related news, insider Rohit Grover sold 1,334 shares of the 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 sale, the insider directly owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $189.12, for a total value of $283,680.00. Following the sale, the chief financial officer owned 58,319 shares in the company, valued at approximately $11,029,289.28. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,704 shares of company stock worth $12,206,910 in the last three months. Insiders own 0.34% of the company's stock.

Hershey Trading Up 3.2%

Shares of HSY opened at $195.04 on Friday. Hershey Company has a 1 year low of $140.13 and a 1 year 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 stock has a 50 day simple moving average of $185.47 and a 200-day simple moving average of $173.15. The stock has a market cap of $39.54 billion, a PE ratio of 25.90, a PEG ratio of 4.57 and a beta of 0.26.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The business had revenue of $2.61 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, sell-side analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a dividend of $1.37 per share. The ex-dividend date was Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a yield of 2.8%. Hershey's dividend payout ratio is 72.78%.

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.

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Company (The) (NYSE:HSY - Free Report).

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.