1832 Asset Management L.P. Reduces Position in Hershey Company (The) $HSY

Key Points

• 1832 Asset Management L.P. reduced its holdings in Hershey Company by 25.1%, now owning 10,783 shares worth approximately $1.84 million after selling 3,622 shares.
• Hershey's most recent quarterly earnings report showed a net margin of 13.54%, with EPS of $1.21 surpassing analysts’ expectations, and revenue increased 26.0% year-over-year.
• The company declared a quarterly dividend of $1.37, resulting in an annualized dividend yield of 3.0% with a payout ratio of 72.78%.

1832 Asset Management L.P. decreased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 25.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,783 shares of the company's stock after selling 3,622 shares during the period. 1832 Asset Management L.P.'s holdings in Hershey were worth $1,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Hershey by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock worth $853,720,000 after acquiring an additional 356,249 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hershey by 38.6% in the fourth 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 acquiring an additional 453,428 shares in the last quarter. Northern Trust Corp grew its position in Hershey by 0.8% in the first quarter. Northern Trust Corp now owns 1,590,903 shares of the company's stock worth $272,092,000 after acquiring an additional 11,946 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Hershey by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,569 shares of the company's stock worth $174,536,000 after acquiring an additional 17,311 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Hershey by 18,311.7% in the first quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after acquiring an additional 1,005,127 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Up 2.2%

Shares of HSY stock traded up $3.93 during mid-day trading on Friday, hitting $183.92. The stock had a trading volume of 1,108,713 shares, compared to its average volume of 1,422,811. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The firm has a market capitalization of $37.28 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 4.36 and a beta of 0.27. The firm's 50-day moving average is $177.44 and its two-hundred day moving average is $170.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share 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 during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business earned $1.27 EPS. The business's revenue for the quarter 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, analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. Hershey's payout ratio is 72.78%.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 61,319 shares of the company's stock, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michele Buck sold 19,290 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 $3,472,200.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares in the company, valued at $34,852,320. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,127 shares of company stock worth $15,759,755. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HSY shares. Wells Fargo & Company raised their price objective on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group decreased their price objective on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein raised their price objective on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $170.83.

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.