Hershey Company (The) $HSY Shares Sold by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management cut its Hershey stake by 89.2% in the fourth quarter, leaving it with 13,605 shares valued at about $2.48 million.
• Insider selling has continued, with executives including Rohit Grover and CFO Steven E. Voskuil selling shares; insiders have sold 10,000 shares worth about $2.19 million over the last 90 days.
• Hershey beat quarterly earnings expectations, reporting $2.35 EPS on revenue of $3.10 billion, while analysts currently rate the stock a consensus “Hold” with an average price target of $218.33.

iA Global Asset Management Inc. lowered its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,605 shares of the company's stock after selling 111,920 shares during the quarter. iA Global Asset Management Inc.'s holdings in Hershey were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Beese Fulmer Investment Management Inc. increased its holdings in Hershey by 89.3% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 73,928 shares of the company's stock worth $13,453,000 after buying an additional 34,876 shares during the period. Barr E S & Co. increased its holdings in Hershey by 157.8% in the 4th quarter. Barr E S & Co. now owns 4,347 shares of the company's stock worth $791,000 after buying an additional 2,661 shares during the period. Canada Post Corp Registered Pension Plan increased its holdings in Hershey by 28.7% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 3,539 shares of the company's stock worth $644,000 after buying an additional 790 shares during the period. Lawood & Co. acquired a new position in Hershey in the 4th quarter worth approximately $251,000. Finally, AlphaCore Capital LLC increased its holdings in Hershey by 350.9% in the 4th quarter. AlphaCore Capital LLC now owns 6,443 shares of the company's stock worth $1,173,000 after buying an additional 5,014 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Transactions at Hershey

In other news, insider Rohit Grover sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $226.07, for a total transaction of $791,245.00. Following the sale, the insider owned 34,568 shares of the company's stock, valued at $7,814,787.76. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the sale, the chief financial officer directly owned 57,695 shares in the company, valued at $11,198,599.50. The trade was a 2.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,000 shares of company stock valued at $2,189,090 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HSY shares. Morgan Stanley cut their price target on shares of Hershey from $247.00 to $227.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Piper Sandler reiterated an "overweight" rating and issued a $249.00 price target on shares of Hershey in a report on Wednesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Hershey from $211.00 to $204.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Wells Fargo & Company cut their price target on shares of Hershey from $220.00 to $200.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $185.00 price target on shares of Hershey in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $218.33.

Hershey Price Performance

Shares of NYSE HSY opened at $191.48 on Tuesday. The stock has a market capitalization of $38.84 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 1.12 and a beta of 0.07. Hershey Company has a 12 month low of $150.04 and a 12 month high of $239.48. The firm's 50 day simple moving average is $201.92 and its 200-day simple moving average is $197.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. Analysts expect that Hershey Company will post 8.45 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.0%. Hershey's dividend payout ratio (DPR) is presently 108.19%.

Hershey Profile

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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