IFG Advisory LLC Boosts Holdings in Hershey Company (The) (NYSE:HSY)

Key Points

• IFG Advisory LLC significantly increased its stake in Hershey Company by 86.3% in Q1, now owning 11,664 shares valued at approximately $1.995 million.
• Hershey reported a strong quarterly performance with $1.21 EPS, surpassing expectations, and a revenue of $2.61 billion, reflecting a 26% increase year-over-year.
• The company has announced a quarterly dividend of $1.37 per share with a resulting annualized dividend yield of 2.9%.

IFG Advisory LLC lifted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 86.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,664 shares of the company's stock after purchasing an additional 5,403 shares during the period. IFG Advisory LLC's holdings in Hershey were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HSY. Trust Co. of Vermont increased its stake in shares of Hershey by 2.4% in the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock worth $460,000 after acquiring an additional 62 shares in the last quarter. Ignite Planners LLC increased its stake in shares of Hershey by 5.2% in the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock worth $214,000 after acquiring an additional 63 shares in the last quarter. Allworth Financial LP increased its stake in Hershey by 0.9% during the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after purchasing an additional 67 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Hershey by 2.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after purchasing an additional 69 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake in Hershey by 3.0% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,407 shares of the company's stock valued at $412,000 after purchasing an additional 69 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

HSY opened at $188.70 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The company has a market cap of $38.23 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 4.56 and a beta of 0.27. The company's 50 day moving average is $170.58 and its 200 day moving average is $166.21. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03.

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

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.9%. Hershey's dividend payout ratio (DPR) is presently 72.78%.

Insider Buying and Selling

In other Hershey news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the transaction, the insider owned 38,068 shares of the company's stock, valued at $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer directly owned 61,319 shares in the company, valued at $11,037,420. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,311 shares of company stock valued at $20,931,348 in the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein raised their price objective on shares of Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday. Mizuho raised their price objective on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Royal Bank Of Canada reduced their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Bank of America raised their price objective on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a research note on Thursday. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $168.37.

Hershey 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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