Mengis Capital Management Inc. Has $3.72 Million Holdings in Hershey Company (The) $HSY

Key Points

• Mengis Capital Management Inc. reduced its holdings in Hershey Company by 27.7%, selling 8,592 shares during the second quarter, bringing its total holdings to $3.72 million.
• Several other institutional investors increased their stakes in Hershey, with notable boosts from Farther Finance Advisors LLC by 55.9% and Assenagon Asset Management S.A. by an astounding 1,320.6%.
• Hershey's stock was recently upgraded by Goldman Sachs from a "sell" to a "buy" rating, alongside a raised price target from $170 to $222.

Mengis Capital Management Inc. decreased its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 27.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,400 shares of the company's stock after selling 8,592 shares during the quarter. Mengis Capital Management Inc.'s holdings in Hershey were worth $3,717,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HSY. Park Avenue Securities LLC boosted its holdings in Hershey by 8.8% during the first quarter. Park Avenue Securities LLC now owns 6,847 shares of the company's stock worth $1,171,000 after purchasing an additional 554 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Hershey by 55.9% during the first quarter. Farther Finance Advisors LLC now owns 8,808 shares of the company's stock worth $1,494,000 after purchasing an additional 3,160 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Hershey by 7.7% during the first quarter. GAMMA Investing LLC now owns 5,909 shares of the company's stock worth $1,011,000 after purchasing an additional 420 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Hershey by 92.5% during the first quarter. SG Americas Securities LLC now owns 8,815 shares of the company's stock worth $1,508,000 after purchasing an additional 4,236 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Hershey by 1,320.6% during the first quarter. Assenagon Asset Management S.A. now owns 44,493 shares of the company's stock worth $7,610,000 after purchasing an additional 41,361 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Activity

In related news, insider Rohit Grover sold 1,334 shares of the firm'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 $240,120.00. Following the transaction, the insider directly owned 38,068 shares of the company's stock, valued at approximately $6,852,240. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michele Buck sold 19,290 shares of the firm's 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 transaction, the chief executive officer directly owned 193,624 shares in the company, valued at approximately $34,852,320. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,704 shares of company stock valued at $12,206,910 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on HSY. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. The Goldman Sachs Group upgraded shares of Hershey from a "sell" rating to a "buy" rating and increased their price target for the company from $170.00 to $222.00 in a research note on Tuesday, September 16th. Bank of America increased their price target on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Mizuho increased their price target on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Hershey in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $175.89.

Hershey Price Performance

Shares of HSY opened at $192.29 on Friday. The firm has a market capitalization of $38.98 billion, a PE ratio of 25.54, a PEG ratio of 4.72 and a beta of 0.26. The company's 50-day moving average is $186.10 and its 200-day moving average is $173.91. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. 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 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. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company's revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.8%. Hershey's dividend payout ratio is presently 72.78%.

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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