Korea Investment CORP Decreases Stock Holdings in Hershey Company (The) $HSY

Key Points

• Korea Investment Corp has reduced its holdings in Hershey Company by 24.8% in the first quarter, selling about 9,795 shares and ending with 29,694 shares valued at approximately $5 million.
• Hershey's quarterly earnings exceeded expectations with $1.21 earnings per share, beating the consensus estimate of $0.98, while revenue for the quarter rose 26.0% year-over-year.
• The company announced a quarterly dividend of $1.37 per share, translating to an annualized yield of 3.0%, with a payout ratio of approximately 72.78%.

Korea Investment CORP reduced its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,694 shares of the company's stock after selling 9,795 shares during the quarter. Korea Investment CORP's holdings in Hershey were worth $5,079,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HSY. Putney Financial Group LLC purchased a new stake 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 $28,000. Proffitt & Goodson Inc. purchased a new position in shares of Hershey in the first quarter valued at $28,000. Tradewinds Capital Management LLC boosted its stake 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 purchasing an additional 101 shares during the period. Finally, Fort Vancouver Investment Management LLC purchased a new position in shares of Hershey in the first quarter valued at $34,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Up 1.2%

Hershey stock opened at $181.4760 on Friday. The stock has a market cap of $36.79 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 4.34 and a beta of 0.27. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The company's 50-day moving average price is $176.26 and its two-hundred day moving average price is $169.34. 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 quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $1.27 EPS. The business'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. On average, analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total transaction 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 approximately $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer directly owned 61,319 shares of the company's stock, valued at $11,037,420. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,311 shares of company stock valued at $20,931,348. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on HSY shares. UBS Group cut their price target on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Piper Sandler increased their target price on shares of Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Sanford C. Bernstein increased their target price on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. DA Davidson increased their target price on shares of Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus upped their price target 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. Fourteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $170.83.

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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