Hershey Company (The) (NYSE:HSY) Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. has reduced its ownership in Hershey Company by 23.9%, selling 18,621 shares in the first quarter, now holding 59,285 shares valued at approximately $10.14 million.
• CEO Michele Buck and CFO Steven E. Voskuil both sold significant amounts of their shares, with Buck selling 31,210 shares for over $5 million and Voskuil selling 5,000 shares valued at $900,000.
• Hershey reported earnings of $2.09 per share for the most recent quarter, exceeding estimates, while also declaring a quarterly dividend of $1.37 per share with a yield of 2.92%.

Heartland Advisors Inc. cut its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 23.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,285 shares of the company's stock after selling 18,621 shares during the quarter. Heartland Advisors Inc.'s holdings in Hershey were worth $10,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HSY. Capital International Investors grew its holdings in shares of Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after purchasing an additional 47,394 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Northern Trust Corp raised its holdings in Hershey by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock valued at $267,396,000 after acquiring an additional 154,238 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Hershey by 7.3% in the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock valued at $217,222,000 after acquiring an additional 87,498 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hershey

In related news, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $227,500.00. Following the completion of the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. This trade represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the company's 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 $900,000.00. Following the sale, the chief financial officer directly owned 61,319 shares of the company's stock, valued at approximately $11,037,420. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,021 shares of company stock worth $17,189,088 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HSY. UBS Group decreased their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley dropped their price objective on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Barclays increased their target price on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Citigroup decreased their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler lifted their price target on shares of Hershey from $120.00 to $145.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.68.

Hershey Stock Down 1.3%

HSY stock traded down $2.49 during trading on Monday, reaching $184.63. The stock had a trading volume of 1,533,335 shares, compared to its average volume of 1,865,864. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. The company's 50 day moving average is $167.36 and its two-hundred day moving average is $165.19. The company has a market capitalization of $37.41 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 7.05 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The company's revenue was down 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.07 EPS. Equities research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's dividend payout ratio (DPR) is currently 67.57%.

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.