Russell Investments Group Ltd. Boosts Stock Position in Hershey Company (The) $HSY

Key Points

• Russell Investments Group Ltd. increased its stake in Hershey Company by 48.2%, owning approximately 0.07% of the company, valued at $22.89 million.
• Insider activity saw CEO Michele Buck selling 31,210 shares and other insiders collectively selling 118,311 shares over the past 90 days, indicating a decrease in ownership.
• Analysts have raised price targets for Hershey, with Barclays increasing its target from $165 to $190, suggesting a consensus rating of "Hold."

Russell Investments Group Ltd. raised its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 48.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,896 shares of the company's stock after acquiring an additional 43,534 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Hershey worth $22,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HSY. Rockefeller Capital Management L.P. increased its holdings in Hershey by 16.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 18,297 shares of the company's stock valued at $3,100,000 after acquiring an additional 2,591 shares in the last quarter. Mariner LLC increased its holdings in Hershey by 0.3% during the 4th quarter. Mariner LLC now owns 73,058 shares of the company's stock valued at $12,372,000 after acquiring an additional 208 shares in the last quarter. Gabelli Funds LLC increased its holdings in Hershey by 6.3% during the 4th quarter. Gabelli Funds LLC now owns 4,250 shares of the company's stock valued at $720,000 after acquiring an additional 250 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Hershey by 36.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 1,718 shares of the company's stock valued at $291,000 after acquiring an additional 462 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Hershey by 5.6% during the 4th quarter. NewEdge Advisors LLC now owns 6,242 shares of the company's stock valued at $1,057,000 after acquiring an additional 331 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hershey

In other news, CEO Michele Buck sold 19,290 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the sale, the chief executive officer directly owned 193,624 shares of the company's stock, valued at approximately $37,563,056. This represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock worth $20,931,348 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HSY shares. Morgan Stanley lifted their price target on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. began coverage on shares of Hershey in a research report on Wednesday. They set a "neutral" rating and a $187.00 price objective on the stock. Royal Bank Of Canada dropped their target price on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, UBS Group dropped their target price on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Fourteen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Hershey currently has an average rating of "Reduce" and an average target price of $170.83.

Hershey Trading Up 0.9%

Shares of HSY stock traded up $1.6320 on Wednesday, reaching $182.4020. The company had a trading volume of 690,654 shares, compared to its average volume of 1,844,745. The stock has a market cap of $36.98 billion, a PE ratio of 24.17, a PEG ratio of 4.30 and a beta of 0.27. 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 12 month low of $140.13 and a 12 month high of $208.03. The company has a 50-day moving average of $175.60 and a 200-day moving average of $168.78.

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

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio is 72.78%.

About Hershey

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.