Hershey Company (The) $HSY Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Hershey stake by 14.6% in the first quarter, selling 15,609 shares and leaving it with 91,040 shares worth about $18.9 million.
• Hershey reported strong quarterly results, posting EPS of $2.35 versus the $2.04 estimate and revenue of $3.10 billion, with revenue up 10.7% year over year.
• Analyst sentiment remains cautious: the stock has a consensus Hold rating and an average price target of $218.06, while Hershey also recently paid a quarterly dividend yielding about 3.4% annually.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,040 shares of the company's stock after selling 15,609 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Hershey were worth $18,926,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Syon Capital LLC raised its stake in shares of Hershey by 1.5% during the fourth quarter. Syon Capital LLC now owns 3,020 shares of the company's stock valued at $550,000 after purchasing an additional 46 shares in the last quarter. Haverford Trust Co lifted its holdings in Hershey by 0.7% in the fourth quarter. Haverford Trust Co now owns 6,796 shares of the company's stock worth $1,237,000 after purchasing an additional 46 shares during the period. Larson Financial Group LLC grew its position in Hershey by 2.0% in the 4th quarter. Larson Financial Group LLC now owns 2,561 shares of the company's stock valued at $466,000 after buying an additional 50 shares in the last quarter. Venture Visionary Partners LLC grew its position in Hershey by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 8,034 shares of the company's stock valued at $1,462,000 after buying an additional 53 shares in the last quarter. Finally, ARS Wealth Advisors Group LLC increased its stake in Hershey by 1.8% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 3,070 shares of the company's stock valued at $559,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HSY shares. JPMorgan Chase & Co. dropped their price objective on Hershey from $211.00 to $204.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Zacks Research cut Hershey from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. The Goldman Sachs Group set a $240.00 target price on Hershey in a report on Friday, May 1st. Piper Sandler reiterated an "overweight" rating and issued a $249.00 price target on shares of Hershey in a research report on Wednesday, February 25th. Finally, Morgan Stanley cut their price target on shares of Hershey from $247.00 to $227.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $218.06.

Hershey Price Performance

Shares of NYSE:HSY opened at $172.38 on Friday. Hershey Company has a one year low of $160.07 and a one year high of $239.48. The stock has a fifty day moving average of $188.34 and a 200-day moving average of $198.22. The company has a market capitalization of $34.97 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $2.09 EPS. As a group, equities analysts anticipate that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $1.452 dividend. The ex-dividend date was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. Hershey's dividend payout ratio (DPR) is 108.19%.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the transaction, the chief financial officer owned 57,695 shares of the company's stock, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

About Hershey

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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