Iron Gate Global Advisors LLC Raises Stock Holdings in Hershey Company (The) $HSY

Key Points

• Iron Gate Global Advisors LLC increased its shares in Hershey Company by 56.3% during the first quarter, now holding 117,912 shares worth about $20.17 million.
• Insider trading activity included CFO Steven E. Voskuil selling 5,000 shares and CEO Michele Buck disposing of 19,290 shares, which resulted in notable reductions of their respective ownership stakes.
• Hershey reported earnings of $1.21 per share, exceeding estimates, with quarterly revenue of $2.61 billion, reflecting a 26% increase compared to the previous year.

Iron Gate Global Advisors LLC boosted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 56.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,912 shares of the company's stock after purchasing an additional 42,488 shares during the quarter. Hershey makes up 2.8% of Iron Gate Global Advisors LLC's holdings, making the stock its 14th largest position. Iron Gate Global Advisors LLC owned about 0.06% of Hershey worth $20,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HSY. Putney Financial Group LLC purchased a new position in Hershey during the fourth quarter worth approximately $25,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Hershey in the fourth quarter valued at approximately $28,000. Proffitt & Goodson Inc. purchased a new position in shares of Hershey in the first quarter valued at approximately $28,000. Tradewinds Capital Management LLC lifted its position 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 purchased a new position in shares of Hershey in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the completion of the sale, the chief financial officer directly owned 61,319 shares of the company's stock, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the sale, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $37,563,056. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,127 shares of company stock valued at $15,759,755. Corporate insiders own 0.34% of the company's stock.

Hershey Price Performance

HSY stock opened at $185.71 on Thursday. The business has a fifty day moving average of $179.86 and a two-hundred day moving average of $171.61. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The stock has a market cap of $37.65 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.53 and a beta of 0.27. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.23. The company had revenue of $2.61 billion during 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 firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, research analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid 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 3.0%. Hershey's payout ratio is presently 72.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Barclays raised their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. initiated coverage on Hershey in a research report on Wednesday, August 20th. They set a "neutral" rating and a $187.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $171.22.

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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