Hershey Company (The) $HSY Stake Lifted by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC increased its stake in Hershey Company by 14.2% during the 2nd quarter, owning 31,796 shares valued at approximately $5.28 million.
• Hershey reported a 26.0% increase in quarterly revenue year-over-year, with earnings per share of $1.21, surpassing analyst expectations.
• The company has announced a quarterly dividend of $1.37, representing an annualized dividend yield of 2.8% and a payout ratio of 72.78%.

Merit Financial Group LLC boosted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 14.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,796 shares of the company's stock after buying an additional 3,952 shares during the period. Merit Financial Group LLC's holdings in Hershey were worth $5,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fulton Bank N.A. boosted its stake in Hershey by 4.9% during the 2nd quarter. Fulton Bank N.A. now owns 1,312 shares of the company's stock valued at $218,000 after purchasing an additional 61 shares during the period. Trust Co. of Vermont boosted its position 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 worth $460,000 after buying an additional 62 shares during the period. Ignite Planners LLC boosted its position in shares of Hershey by 5.2% during the first quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock worth $214,000 after buying an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its holdings in Hershey by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock worth $1,229,000 after buying an additional 66 shares in the last quarter. Finally, Allworth Financial LP increased its position 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 acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

NYSE:HSY opened at $195.27 on Tuesday. The company has a 50-day moving average of $185.68 and a 200-day moving average of $173.44. The firm has a market cap of $39.59 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 4.71 and a beta of 0.26. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.98 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business's quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HSY shares. Mizuho boosted their price target on Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. DA Davidson increased their target price on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. began coverage on shares of Hershey in a research report on Wednesday, August 20th. They set a "neutral" rating and a $187.00 price target on the stock. Stifel Nicolaus upped their price target 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. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Hershey in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Hershey has a consensus rating of "Reduce" and an average target price of $174.05.

Insider Transactions at Hershey

In other news, insider Rohit Grover sold 1,334 shares of the company'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 completion of the sale, the insider directly owned 38,068 shares of the company's stock, valued at $6,852,240. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares in the company, valued at $37,563,056. This represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,704 shares of company stock valued at $12,206,910 over the last three months. Company insiders own 0.28% of the company's stock.

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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