Solidarity Wealth LLC Acquires Shares of 10,200 Hershey Company (The) (NYSE:HSY)

Key Points

• Solidarity Wealth LLC acquired a new stake in Hershey Company, purchasing 10,200 shares valued at approximately $1,745,000 during the first quarter.
• Several analysts have adjusted their ratings and price targets for Hershey, with Piper Sandler boosting its target from $120.00 to $145.00 while others have cut their projections.
• Hershey recently announced a quarterly dividend of $1.37 per share, representing an annual yield of 2.92%, with the ex-dividend date occurring on May 16th.

Solidarity Wealth LLC acquired a new stake in Hershey Company (The) (NYSE:HSY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,200 shares of the company's stock, valued at approximately $1,745,000.

Other institutional investors have also bought and sold shares of the company. Montag & Caldwell LLC bought a new position in shares of Hershey in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new position in shares of Hershey during the fourth quarter valued at about $25,000. Mpwm Advisory Solutions LLC bought a new position in shares of Hershey during the fourth quarter valued at about $28,000. Proffitt & Goodson Inc. bought a new position in shares of Hershey during the first quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC boosted its holdings in shares of Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Down 1.3%

NYSE:HSY traded down $2.49 during mid-day trading on Monday, hitting $184.63. 1,533,335 shares of the stock traded hands, compared to its average volume of 1,792,746. The stock has a market capitalization of $37.41 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 7.05 and a beta of 0.30. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The firm's 50 day moving average is $167.92 and its two-hundred day moving average is $165.38. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the firm earned $3.07 EPS. The company's revenue for the quarter was down 13.8% compared to the same quarter last year. On average, equities research analysts predict that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.97%. Hershey's payout ratio is presently 67.57%.

Insider Activity at Hershey

In related news, CEO Michele Buck sold 19,290 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $185.00, for a total transaction of $3,568,650.00. Following the completion of the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $35,820,440. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the transaction, the chief accounting officer directly owned 2,994 shares of the company's stock, valued at approximately $470,387.34. This represents a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,021 shares of company stock valued at $17,189,088 over the last three months. Company insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Royal Bank Of Canada reduced their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. DA Davidson raised their price target on shares of Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Morgan Stanley cut their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Mizuho lifted their price target on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday. Six equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.68.

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.