Jacobi Capital Management LLC Raises Position in Hershey Company (The) $HSY

Key Points

• Jacobi Capital Management LLC increased its holdings in Hershey Company by 31.9% to a value of $1.38 million, owning 8,052 shares as of the latest SEC filing.
• Significant investment activity is noted with other firms like GAMMA Investing LLC boosting its position by 18,311.7%, now holding shares worth approximately $1.73 billion.
• Hershey reported earnings of $1.21 per share for the recent quarter, exceeding estimates, and also announced a quarterly dividend of $1.37 per share to be paid in September.

Jacobi Capital Management LLC lifted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,052 shares of the company's stock after purchasing an additional 1,948 shares during the period. Jacobi Capital Management LLC's holdings in Hershey were worth $1,377,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Hershey by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock valued at $853,720,000 after buying an additional 356,249 shares during the period. Royal Bank of Canada raised its position in Hershey by 25.4% during the 1st quarter. Royal Bank of Canada now owns 2,753,077 shares of the company's stock valued at $470,858,000 after purchasing an additional 557,056 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Hershey by 38.6% in the 4th 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 buying an additional 453,428 shares during the period. Northern Trust Corp grew its position in shares of Hershey by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,590,903 shares of the company's stock worth $272,092,000 after buying an additional 11,946 shares during the last quarter. Finally, Amundi grew its position in shares of Hershey by 40.4% in the 1st quarter. Amundi now owns 1,237,107 shares of the company's stock worth $208,227,000 after buying an additional 356,105 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Up 0.3%

NYSE HSY traded up $0.52 during trading hours on Monday, reaching $185.53. 939,524 shares of the company's stock traded hands, compared to its average volume of 1,776,411. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The firm has a market cap of $37.61 billion, a PE ratio of 24.64, a PEG ratio of 4.47 and a beta of 0.27. The firm has a 50-day simple moving average of $180.55 and a 200 day simple moving average of $171.79. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $1.27 EPS. Hershey's revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Sell-side analysts anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm 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. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio (DPR) is 72.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler raised their price target on Hershey from $160.00 to $167.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 9th. Stifel Nicolaus raised their target price on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Sanford C. Bernstein lifted their target price on shares of Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, DA Davidson lifted their target price on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $171.22.

Insider Buying and Selling at Hershey

In other Hershey news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the transaction, the insider directly owned 38,068 shares of the company's stock, valued at approximately $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $3,472,200.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $34,852,320. This trade represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,127 shares of company stock valued at $15,759,755. Insiders own 0.34% of the company's stock.

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.