SCS Capital Management LLC Invests $292,000 in Hershey Company (The) $HSY

Key Points

• SCS Capital Management LLC has made a new investment in Hershey Company, acquiring 1,707 shares valued at approximately $292,000.
• Hershey's CEO, Michele Buck, recently sold 19,290 shares of the company's stock for over $3.7 million, representing a 9.06% decrease in her ownership.
• Hershey's quarterly earnings report showed a revenue increase of 26.0% compared to last year, with earnings per share beating expectations at $1.21.

SCS Capital Management LLC acquired a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,707 shares of the company's stock, valued at approximately $292,000.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Hershey by 18,311.7% in the first quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after acquiring an additional 1,005,127 shares during the last quarter. Pacer Advisors Inc. boosted its stake 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 valued at $140,150,000 after acquiring an additional 807,433 shares during the last quarter. Royal Bank of Canada increased its position in Hershey by 25.4% during the 1st quarter. Royal Bank of Canada now owns 2,753,077 shares of the company's stock worth $470,858,000 after purchasing an additional 557,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Hershey by 38.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock valued at $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Hershey by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock valued at $853,720,000 after purchasing an additional 356,249 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Analysts Set New Price Targets

HSY has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Hershey from $160.00 to $167.00 and gave the stock an "underweight" rating in a report on Tuesday, September 9th. Sanford C. Bernstein increased their target price on Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Hershey in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Hershey currently has a consensus rating of "Reduce" and a consensus target price of $171.22.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 5,000 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 $900,000.00. Following the sale, the chief financial officer directly owned 61,319 shares in the company, valued at approximately $11,037,420. This trade represents a 7.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer 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 have sold a total of 86,127 shares of company stock worth $15,759,755 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

Hershey Trading Down 0.3%

NYSE HSY traded down $0.60 during mid-day trading on Friday, hitting $184.95. The company's stock had a trading volume of 871,541 shares, compared to its average volume of 1,089,128. The firm has a market capitalization of $37.49 billion, a P/E ratio of 24.56, a price-to-earnings-growth 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 Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock's fifty day simple moving average is $180.35 and its two-hundred day simple moving average is $171.70.

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, topping the consensus estimate of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The business's quarterly revenue 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 expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business 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 $1.37 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. Hershey's dividend payout ratio is presently 72.78%.

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.