Sumitomo Mitsui DS Asset Management Company Ltd Acquires 2,515 Shares of Hershey Company (The) $HSY

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Hershey Company by 12.0% during the second quarter, now holding 23,524 shares valued at approximately $3.9 million.
• Hershey's earnings report showed $1.21 earnings per share for the last quarter, exceeding analyst expectations, with revenue up 26.0% year-over-year.
• The company announced a quarterly dividend of $1.37, representing a yield of 2.9% and a payout ratio of 72.78%.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,524 shares of the company's stock after acquiring an additional 2,515 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Hershey were worth $3,904,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Trust Co. of Vermont raised its holdings in shares of Hershey by 2.4% during the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after acquiring an additional 62 shares during the period. Ignite Planners LLC raised its holdings in shares of Hershey by 5.2% during the first quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after acquiring an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its stake in Hershey by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after buying an additional 66 shares during the period. Allworth Financial LP increased its stake in Hershey by 0.9% in the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after buying an additional 67 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in Hershey by 2.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Up 1.2%

HSY stock traded up $2.30 during mid-day trading on Monday, hitting $192.48. 1,718,402 shares of the company were exchanged, compared to its average volume of 1,786,017. 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 1-year low of $140.13 and a 1-year high of $208.03. The firm has a market cap of $39.02 billion, a P/E ratio of 25.56, a P/E/G ratio of 4.59 and a beta of 0.27. The firm's 50 day simple moving average is $182.59 and its 200 day simple moving average is $172.16.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share (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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.27 earnings per share. The firm'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. On average, sell-side analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Insider Activity

In related news, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction 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 in the company, valued at approximately $34,852,320. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the business's stock in a transaction 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 owned 38,068 shares in the company, valued at approximately $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,627 shares of company stock valued at $16,043,435 in the last ninety days. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HSY shares. BNP Paribas Exane upgraded shares of Hershey from a "neutral" rating to an "outperform" rating in a research note on Monday, September 15th. Morgan Stanley upped their price objective on shares of Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. DA Davidson upped their price objective on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Mizuho boosted 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. Finally, Wells Fargo & Company boosted their target price on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Hershey currently has an average rating of "Reduce" and a consensus target price of $173.89.

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.