Hershey Company (The) $HSY Shares Bought by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Hershey Company by 10.6%, owning over 61,000 shares worth nearly $10 million.
• Recent analyst ratings show a mix of upgrades, with Goldman Sachs shifting its rating from "sell" to "buy" and raising the price target to $222, while consensus remains at a "Reduce" rating.
• The company declared a quarterly dividend of $1.37 per share, resulting in an annualized yield of 2.9% for shareholders.

Foster Victor Wealth Advisors LLC grew its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,539 shares of the company's stock after acquiring an additional 5,916 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Hershey were worth $9,966,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HSY. Public Employees Retirement System of Ohio boosted its stake in Hershey by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 45,229 shares of the company's stock valued at $7,506,000 after purchasing an additional 377 shares during the period. Alhambra Investment Management LLC boosted its position in shares of Hershey by 4.0% during the second quarter. Alhambra Investment Management LLC now owns 3,441 shares of the company's stock worth $571,000 after buying an additional 132 shares during the period. Buttonwood Financial Advisors Inc. grew its holdings in Hershey by 14.8% in the 2nd quarter. Buttonwood Financial Advisors Inc. now owns 3,728 shares of the company's stock worth $619,000 after buying an additional 482 shares in the last quarter. Ballentine Partners LLC increased its position in Hershey by 38.8% in the 2nd quarter. Ballentine Partners LLC now owns 5,143 shares of the company's stock valued at $853,000 after acquiring an additional 1,439 shares during the period. Finally, Accurate Wealth Management LLC raised its stake in Hershey by 20.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,972 shares of the company's stock valued at $325,000 after acquiring an additional 339 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HSY shares. Stifel Nicolaus raised their price target on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. The Goldman Sachs Group upgraded shares of Hershey from a "sell" rating to a "buy" rating and raised their price objective for the company from $170.00 to $222.00 in a research report on Tuesday, September 16th. Sanford C. Bernstein lifted their target price on Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on Hershey in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 price target for the company. Finally, Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $173.89.

Insider Buying and Selling at Hershey

In related news, insider Rohit Grover sold 1,334 shares of Hershey 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 completion of the sale, the insider directly owned 38,068 shares of the company's stock, valued at $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James Turoff sold 1,300 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,627 shares of company stock valued at $16,043,435. 0.28% of the stock is currently owned by corporate insiders.

Hershey Trading Down 0.8%

Shares of HSY opened at $190.72 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 4.65 and a beta of 0.27. The stock has a fifty day moving average price of $183.69 and a two-hundred day moving average price of $172.34. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03.

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, beating analysts' consensus estimates of $0.98 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was 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.

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