Perigon Wealth Management LLC Lowers Holdings in Hershey Company (The) $HSY

Key Points

• Perigon Wealth Management LLC significantly reduced its holdings in Hershey Company by 73.3% in the second quarter, leaving it with 1,946 shares valued at $323,000.
• Hershey reported $1.21 earnings per share for the last quarter, exceeding analysts' expectations of $0.98 and showing a 26.0% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.37 per share, resulting in an annualized dividend of $5.48 and a yield of 2.9%.

Perigon Wealth Management LLC lowered its position in Hershey Company (The) (NYSE:HSY - Free Report) by 73.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,946 shares of the company's stock after selling 5,347 shares during the quarter. Perigon Wealth Management LLC's holdings in Hershey were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Proffitt & Goodson Inc. bought a new position in shares of Hershey during the 1st quarter worth $28,000. Tradewinds Capital Management LLC raised its holdings 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 acquiring an additional 101 shares in the last quarter. Fort Vancouver Investment Management LLC purchased a new stake in Hershey in the first quarter worth about $34,000. MorganRosel Wealth Management LLC bought a new position in Hershey during the 1st quarter worth about $35,000. Finally, Zions Bancorporation National Association UT bought a new position in Hershey during the 1st quarter worth about $36,000. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of Hershey stock opened at $187.08 on Wednesday. The company has a 50 day moving average price of $185.11 and a 200 day moving average price of $172.73. The firm has a market capitalization of $37.92 billion, a P/E ratio of 24.84, a PEG ratio of 4.45 and a beta of 0.27. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. 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 issued its quarterly earnings results 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. The business 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%. Hershey's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. 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 year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 2.9%. Hershey's payout ratio is currently 72.78%.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $189.12, for a total value of $283,680.00. Following the completion of the transaction, the chief financial officer directly owned 58,319 shares in the company, valued at $11,029,289.28. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rohit Grover sold 1,334 shares of the company's stock in a transaction that occurred 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. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,704 shares of company stock valued at $12,206,910. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HSY has been the subject of several research reports. Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. BNP Paribas Exane upgraded Hershey from a "neutral" rating to an "outperform" rating in a report on Monday, September 15th. JPMorgan Chase & Co. began coverage on Hershey in a research report on Wednesday, August 20th. They set a "neutral" rating and a $187.00 target price on the stock. Finally, Sanford C. Bernstein boosted their price target on Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $174.05.

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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