Kovitz Investment Group Partners LLC Has $7.96 Million Stock Holdings in Hershey Company (The) $HSY

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Hershey Company by 19.8%, acquiring an additional 7,691 shares, bringing their total holdings to 46,558 shares valued at approximately $7.96 million.
• In April and May, Hershey's CEO Michele Buck and CAO Jennifer Mccalman sold a significant number of shares, with Buck's sale decreasing her holdings by 13.88%.
• Hershey declared a quarterly dividend of $1.37 per share to be paid on September 15th, with an annualized dividend yield of 3.1% and a payout ratio of 72.78%.

Kovitz Investment Group Partners LLC increased its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 19.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,558 shares of the company's stock after buying an additional 7,691 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Hershey were worth $7,963,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putney Financial Group LLC bought a new stake in shares of Hershey in the 4th quarter worth about $25,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the 4th quarter worth approximately $28,000. Proffitt & Goodson Inc. acquired a new position in shares of Hershey in the 1st quarter worth approximately $28,000. Tradewinds Capital Management LLC increased its holdings in shares of Hershey by 129.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Finally, Fort Vancouver Investment Management LLC bought a new position in Hershey during the first quarter worth $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Down 1.3%

Shares of NYSE HSY traded down $2.3010 during mid-day trading on Thursday, reaching $179.2890. The company had a trading volume of 218,228 shares, compared to its average volume of 1,838,348. The stock has a fifty day moving average of $175.87 and a two-hundred day moving average of $168.87. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.36 and a beta of 0.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data 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 return on equity of 37.36% and a net margin of 13.54%.The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm earned $1.27 earnings per share. 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. As a group, equities research analysts expect that Hershey Company will post 6.12 EPS 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. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 15th. Hershey's payout ratio is presently 72.78%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. DA Davidson boosted their price target on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. JPMorgan Chase & Co. began coverage on shares of Hershey in a research report on Wednesday. They set a "neutral" rating and a $187.00 price target for the company. Wells Fargo & Company upped their target price on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, Bank of America lifted their price target on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $170.83.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 5,000 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer directly owned 2,994 shares in the company, valued at approximately $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is owned by corporate 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.