Modern Wealth Management LLC Invests $275,000 in Hershey Company (The) $HSY

Key Points

• Modern Wealth Management LLC invested $275,000 into 1,609 shares of Hershey Company, reflecting growing institutional interest in the brand.
• Hershey recently reported strong quarterly earnings, with a net revenue of $2.61 billion and earnings per share of $1.21, surpassing expectations.
• The company declared a dividend of $1.37 per share, representing an annualized yield of 3.0%, highlighting its commitment to rewarding shareholders.

Modern Wealth Management LLC acquired a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,609 shares of the company's stock, valued at approximately $275,000.

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

Hershey Price Performance

Shares of HSY stock opened at $185.53 on Tuesday. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The stock's 50-day moving average is $180.55 and its 200 day moving average is $171.79. The company has a market cap of $37.61 billion, a P/E ratio of 24.64, a PEG ratio of 4.47 and a beta of 0.27. 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 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 the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Research analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a yield of 3.0%. Hershey's dividend payout ratio (DPR) is presently 72.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BNP Paribas Exane raised Hershey from a "neutral" rating to an "outperform" rating in a report on Monday. Wells Fargo & Company increased their price target on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Piper Sandler increased their price target on Hershey from $160.00 to $167.00 and gave the company an "underweight" rating in a report on Tuesday, September 9th. Mizuho increased their price target on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Bank of America increased 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. One analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Hershey has a consensus rating of "Reduce" and a consensus target price of $171.22.

Insider Buying and Selling

In other Hershey news, insider Rohit Grover sold 1,334 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 value of $240,120.00. Following the completion of the sale, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michele Buck sold 19,290 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 86,127 shares of company stock worth $15,759,755 in the last three months. 0.28% of the stock is owned by company insiders.

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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