Hershey Company (The) $HSY Stock Holdings Increased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its shareholding in Hershey Company by 25.4%, owning a total of 2,753,077 shares valued at approximately $470.9 million.
• Insiders at Hershey have sold 86,127 shares worth about $15.8 million over the last three months, indicating a possible shift in ownership dynamics.
• Research firms have raised their target prices for Hershey's stock, with a consensus price target now around $170.83, but the stock is currently rated as a "Reduce" on average.

Royal Bank of Canada lifted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 25.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,753,077 shares of the company's stock after purchasing an additional 557,056 shares during the quarter. Royal Bank of Canada owned about 1.36% of Hershey worth $470,858,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HSY. GAMMA Investing LLC boosted its holdings in shares of Hershey by 18,311.7% during the first quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after purchasing an additional 1,005,127 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Hershey by 6,721.3% during the first quarter. Pacer Advisors Inc. now owns 819,446 shares of the company's stock worth $140,150,000 after purchasing an additional 807,433 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Hershey by 38.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hershey by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock worth $853,720,000 after purchasing an additional 356,249 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Hershey during the first quarter worth $55,269,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Up 0.3%

Shares of HSY traded up $0.58 during midday trading on Thursday, reaching $185.27. 733,703 shares of the company were exchanged, compared to its average volume of 1,804,089. The stock has a 50-day moving average price of $178.64 and a 200-day moving average price of $171.05. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.45 and a beta of 0.27. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping 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 analysts' expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The firm's quarterly revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Research analysts expect that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HSY shares. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their target price on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Barclays lifted their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. DA Davidson lifted their target price on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Bank of America lifted their target price on Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Fourteen analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $170.83.

Insiders Place Their Bets

In other news, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the sale, the chief executive officer directly owned 193,624 shares of the company's stock, valued at approximately $37,563,056. The trade was a 9.06% 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 this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 86,127 shares of company stock valued at $15,759,755 in the last three months. 0.28% of the stock is owned by 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.