Marathon Trading Investment Management LLC Sells 3,400 Shares of Hershey Company (The) $HSY

Key Points

• Marathon Trading Investment Management LLC has reduced its stake in Hershey Company by 61.8%, selling 3,400 shares, leaving them with 2,100 shares valued at approximately $359,000.
• Several institutional investors have increased their positions in Hershey, with Capital International Investors raising their stake by 31.4%, now owning over 12 million shares valued at $2.1 billion.
• Hershey Company recently announced a quarterly dividend of $1.37, representing a yield of 3.0% and a payout ratio of 72.78%.

Marathon Trading Investment Management LLC reduced its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 61.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the company's stock after selling 3,400 shares during the period. Marathon Trading Investment Management LLC's holdings in Hershey were worth $359,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Putney Financial Group LLC acquired a new position in Hershey in the 4th quarter valued at $25,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Hershey in the fourth quarter valued at about $28,000. Proffitt & Goodson Inc. acquired a new position in shares of Hershey in the first quarter valued at about $28,000. Tradewinds Capital Management LLC grew its stake in shares of Hershey by 129.5% in the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Fort Vancouver Investment Management LLC bought a new position in Hershey during the first quarter worth about $34,000. Institutional investors own 57.96% of the company's stock.

Insider Activity

In related news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer owned 2,994 shares of the company's stock, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $240,120.00. Following the sale, the insider owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HSY. JPMorgan Chase & Co. started coverage on shares of Hershey in a report on Wednesday. They issued a "neutral" rating and a $187.00 price objective for the company. Mizuho boosted their price target on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Piper Sandler increased their price target on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Sanford C. Bernstein lifted their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Finally, Bank of America raised their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Fourteen analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Hershey presently has an average rating of "Reduce" and a consensus price target of $170.83.

Hershey Price Performance

NYSE:HSY traded up $0.8340 during trading hours on Wednesday, hitting $181.6040. The company's stock had a trading volume of 1,289,039 shares, compared to its average volume of 1,705,286. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. The stock has a fifty day simple moving average of $175.87 and a 200-day simple moving average of $168.87. The company has a market capitalization of $36.82 billion, a P/E ratio of 24.12, a PEG ratio of 4.36 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. 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 anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $1.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. Hershey's dividend payout ratio (DPR) is currently 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.