Hershey Company (The) $HSY Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Hershey Company by 10.8%, now owning approximately 0.15% of the company valued at $52.57 million.
• Hershey's recent earnings report showed a significant growth, with a quarterly revenue increase of 26.0% year-over-year, reporting $2.61 billion in revenue, surpassing estimates.
• The company also announced a quarterly dividend of $1.37, yielding 3.0%, set to be distributed to shareholders on September 15th.

BNP Paribas Financial Markets boosted its position in Hershey Company (The) (NYSE:HSY - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,361 shares of the company's stock after purchasing an additional 29,943 shares during the period. BNP Paribas Financial Markets owned about 0.15% of Hershey worth $52,568,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Preservation Advisors LLC acquired a new position in shares of Hershey in the first quarter worth $198,000. CreativeOne Wealth LLC raised its holdings in shares of Hershey by 50.7% in the first quarter. CreativeOne Wealth LLC now owns 9,794 shares of the company's stock worth $1,675,000 after acquiring an additional 3,293 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in shares of Hershey by 67.9% in the first quarter. Quadcap Wealth Management LLC now owns 4,835 shares of the company's stock worth $827,000 after acquiring an additional 1,956 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Hershey by 205.9% in the first quarter. Gabelli Funds LLC now owns 13,000 shares of the company's stock worth $2,223,000 after acquiring an additional 8,750 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Hershey by 10.5% in the first quarter. Comerica Bank now owns 55,667 shares of the company's stock valued at $9,521,000 after purchasing an additional 5,291 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In related news, CEO Michele Buck sold 19,290 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $37,563,056. This represents a 9.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 5,000 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 value of $900,000.00. Following the completion of the transaction, the chief financial officer directly owned 61,319 shares of the company's stock, valued at $11,037,420. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,127 shares of company stock valued at $15,759,755 in the last three months. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HSY shares. Wells Fargo & Company lifted their price objective on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. DA Davidson lifted their target price on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Morgan Stanley lifted their target price on Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Barclays lifted their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Piper Sandler lifted their target price on Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Fourteen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Hershey has a consensus rating of "Reduce" and an average price target of $170.83.

Hershey Stock Up 0.4%

Shares of NYSE:HSY traded up $0.68 during trading on Thursday, hitting $185.37. The company's stock had a trading volume of 308,724 shares, compared to its average volume of 1,801,444. 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 fifty-two week low of $140.13 and a fifty-two week high of $208.03. The stock's 50-day moving average price is $178.27 and its two-hundred day moving average price is $170.86. The company has a market capitalization of $37.58 billion, a PE ratio of 24.60, a PEG ratio of 4.45 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company'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 expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 15th. 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.