Stanley Laman Group Ltd. Increases Stock Position in Hershey Company (The) $HSY

Key Points

• Stanley Laman Group Ltd. increased its stake in Hershey Company by 95.2% during the 2nd quarter, holding 2,784 shares valued at $462,000.
• Multiple institutional investors have also raised their positions in Hershey, with 57.96% of the company's stock now owned by institutional shareholders.
• Hershey's recent earnings report showed $1.21 EPS, exceeding expectations, along with a revenue increase of 26.0% year-over-year, reporting $2.61 billion for the quarter.

Stanley Laman Group Ltd. boosted its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 95.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,784 shares of the company's stock after acquiring an additional 1,358 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Hershey were worth $462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Hershey by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 82,109 shares of the company's stock valued at $13,626,000 after purchasing an additional 626 shares in the last quarter. Nordea Investment Management AB raised its position in Hershey by 4.8% in the 2nd quarter. Nordea Investment Management AB now owns 58,078 shares of the company's stock worth $9,695,000 after buying an additional 2,659 shares during the last quarter. Kennon Green & Company LLC lifted its stake in Hershey by 2.9% during the 2nd quarter. Kennon Green & Company LLC now owns 44,389 shares of the company's stock valued at $7,804,000 after acquiring an additional 1,243 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Hershey by 11.1% during the 2nd quarter. Ritholtz Wealth Management now owns 2,185 shares of the company's stock valued at $363,000 after acquiring an additional 219 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of Hershey by 11.3% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,194 shares of the company's stock valued at $862,000 after acquiring an additional 528 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Stifel Nicolaus lifted their price objective on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. assumed coverage on Hershey in a report on Wednesday, August 20th. They issued a "neutral" rating and a $187.00 target price on the stock. The Goldman Sachs Group upgraded Hershey from a "sell" rating to a "buy" rating and boosted their price target for the company from $170.00 to $222.00 in a research note on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hershey in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $176.11.

Hershey Stock Up 0.6%

HSY stock opened at $187.88 on Friday. The business's 50-day moving average price is $186.28 and its 200-day moving average price is $174.82. The stock has a market cap of $38.09 billion, a P/E ratio of 24.95, a PEG ratio of 4.53 and a beta of 0.26. 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 twelve month low of $140.13 and a twelve month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The firm's revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, equities research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey's dividend payout ratio is currently 72.78%.

Insiders Place Their Bets

In related news, CEO Michele Buck sold 19,290 shares of the 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 completion of the sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $37,563,056. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $189.12, for a total value of $283,680.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,704 shares of company stock worth $12,206,910. Corporate insiders own 0.34% of the company's stock.

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.

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Company (The) (NYSE:HSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.