Janney Montgomery Scott LLC Sells 74,015 Shares of Hershey Company (The) $HSY

Key Points

• Janney Montgomery Scott LLC has significantly reduced its stake in Hershey Company by 40.6% during the second quarter, selling 74,015 shares and now holds 0.05% of the company worth approximately $17.96 million.
• Institutional investors collectively own 57.96% of Hershey, with Pacer Advisors Inc. increasing its position by an astonishing 6,721.3%.
• Hershey's recent earnings report showcased an EPS of $1.21, exceeding estimates, while the company also declared a quarterly dividend of $1.37 per share, representing an annual yield of 2.9%.

Janney Montgomery Scott LLC cut its position in Hershey Company (The) (NYSE:HSY - Free Report) by 40.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,213 shares of the company's stock after selling 74,015 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of Hershey worth $17,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. Pacer Advisors Inc. increased its stake in shares of Hershey by 6,721.3% in the first quarter. Pacer Advisors Inc. now owns 819,446 shares of the company's stock valued at $140,150,000 after buying an additional 807,433 shares during the period. Royal Bank of Canada grew its stake in 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. Scharf Investments LLC acquired a new stake in Hershey during the second quarter worth approximately $90,588,000. Charles Schwab Investment Management Inc. grew its stake in 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. Finally, Amundi grew its stake in Hershey by 40.4% during the first quarter. Amundi now owns 1,237,107 shares of the company's stock worth $208,227,000 after purchasing an additional 356,105 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Analyst Upgrades and Downgrades

HSY has been the subject of several recent analyst reports. Barclays raised their target price on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Morgan Stanley raised their target price on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company raised their target price on Hershey from $154.00 to $157.00 and gave the stock an "underweight" rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $174.05.

Hershey Stock Up 0.1%

HSY stock opened at $189.00 on Friday. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. 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's 50 day moving average is $185.32 and its 200-day moving average is $172.97. The firm has a market capitalization of $38.32 billion, a PE ratio of 25.10, a P/E/G ratio of 4.56 and a beta of 0.26.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $1.27 earnings per share. The company's revenue for the quarter 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 expect 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 was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 15th. Hershey's dividend payout ratio (DPR) is 72.78%.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $189.12, for a total transaction of $283,680.00. Following the sale, the chief financial officer directly owned 58,319 shares in the company, valued at approximately $11,029,289.28. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rohit Grover sold 1,334 shares of the business'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 $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,704 shares of company stock worth $12,206,910. 0.34% of the stock is owned by company insiders.

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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