SG Americas Securities LLC Buys 17,169 Shares of Hershey Company (The) $HSY

Key Points

• SG Americas Securities LLC boosted its Hershey stake by 50.8% in the first quarter, adding 17,169 shares to bring its total holdings to 50,984 shares valued at about $10.6 million.
• Hershey reported strong quarterly results, with earnings of $2.35 per share topping estimates and revenue of $3.10 billion also beating expectations, up 10.7% year over year.
• The stock is drawing mixed sentiment: Hershey recently paid a $1.452 quarterly dividend (3.2% yield), while analysts currently have a Hold consensus and CFO Steven E. Voskuil sold 1,500 shares in June.

SG Americas Securities LLC increased its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 50.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,984 shares of the company's stock after acquiring an additional 17,169 shares during the quarter. SG Americas Securities LLC's holdings in Hershey were worth $10,599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hershey by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company's stock valued at $2,618,000 after purchasing an additional 937 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Hershey by 20.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company's stock worth $116,000 after purchasing an additional 117 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Hershey during the 2nd quarter worth about $267,000. Bank of Nova Scotia boosted its position in shares of Hershey by 4.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,927 shares of the company's stock worth $2,975,000 after purchasing an additional 769 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Hershey by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company's stock valued at $3,692,000 after buying an additional 1,149 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Trading Up 1.5%

HSY opened at $179.32 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey Company has a fifty-two week low of $160.07 and a fifty-two week high of $239.48. The firm has a market capitalization of $36.37 billion, a PE ratio of 33.39, a P/E/G ratio of 1.06 and a beta of 0.09. The company's 50-day moving average is $186.10 and its 200 day moving average is $198.05.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 EPS. As a group, research analysts predict that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, May 15th. Hershey's dividend payout ratio (DPR) is currently 108.19%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Zacks Research lowered Hershey from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hershey in a report on Tuesday, April 21st. Barclays reduced their price objective on Hershey from $225.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. The Goldman Sachs Group set a $240.00 price objective on Hershey in a report on Friday, May 1st. Finally, Morgan Stanley lowered their target price on Hershey from $247.00 to $227.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $217.50.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total transaction of $260,145.00. Following the completion of the sale, the chief financial officer owned 54,695 shares in the company, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Hershey Company Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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