Intech Investment Management LLC Cuts Stake in Hershey Company (The) $HSY

Key Points

• Intech Investment Management LLC reduced its holdings in Hershey Company by 21.6%, selling 5,740 shares, and now owns 20,790 shares worth approximately $3.56 million.
• Analysts have raised their price targets for Hershey, with DA Davidson setting a new target at $188.00, indicating a generally positive outlook despite a consensus rating of "Reduce."
• Hershey recently declared a quarterly dividend of $1.37 per share, representing a 3.0% dividend yield and a payout ratio of 72.78%.

Intech Investment Management LLC trimmed its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 21.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,790 shares of the company's stock after selling 5,740 shares during the period. Intech Investment Management LLC's holdings in Hershey were worth $3,556,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSY. GAMMA Investing LLC boosted its holdings in shares of Hershey by 18,311.7% during the 1st quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after buying an additional 1,005,127 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Hershey by 6,721.3% during the first quarter. Pacer Advisors Inc. now owns 819,446 shares of the company's stock worth $140,150,000 after purchasing an additional 807,433 shares during the period. Royal Bank of Canada raised its position in shares of Hershey by 25.4% during the first quarter. Royal Bank of Canada now owns 2,753,077 shares of the company's stock worth $470,858,000 after purchasing an additional 557,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Hershey by 38.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hershey by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock worth $853,720,000 after purchasing an additional 356,249 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

NYSE:HSY traded up $0.52 during mid-day trading on Monday, reaching $185.53. The stock had a trading volume of 939,524 shares, compared to its average volume of 1,089,128. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. The firm has a 50 day moving average price of $180.55 and a two-hundred day moving average price of $171.79. The stock has a market capitalization of $37.61 billion, a P/E ratio of 24.64, a P/E/G ratio of 4.47 and a beta of 0.27. Hershey Company has a one year low of $140.13 and a one year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly 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. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The business's quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, analysts expect that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

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

Insider Transactions at Hershey

In other news, CEO Michele Buck sold 19,290 shares of the company's 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 transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 5,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,127 shares of company stock valued at $15,759,755. Company insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of research reports. Morgan Stanley upped their target price on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Stifel Nicolaus increased their price target on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Piper Sandler increased their price target on Hershey from $160.00 to $167.00 and gave the company an "underweight" rating in a research report on Tuesday, September 9th. Mizuho increased their price target on Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. initiated coverage on Hershey in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Hershey presently has a consensus rating of "Reduce" and a consensus target price of $171.22.

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.