Swedbank AB Sells 1,947 Shares of Hershey Company (The) $HSY

Key Points

• Swedbank AB reduced its holdings in Hershey Company by 1.4%, selling 1,947 shares during the second quarter, leaving it with 141,869 shares valued at approximately $23.5 million.
• CEO Michele Buck and CFO Steven E. Voskuil both sold substantial shares recently, indicating a 9.06% and 7.54% decrease in their ownership respectively.
• Hershey's recent financial performance showed a 26.0% increase in revenue year-over-year, reporting $2.61 billion in revenue and an EPS of $1.21 for the last quarter.

Swedbank AB trimmed its position in Hershey Company (The) (NYSE:HSY - Free Report) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,869 shares of the company's stock after selling 1,947 shares during the quarter. Swedbank AB owned 0.07% of Hershey worth $23,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in Hershey in the fourth quarter valued at approximately $25,000. Proffitt & Goodson Inc. acquired a new stake in Hershey in the first quarter valued at approximately $28,000. Tradewinds Capital Management LLC boosted its position in Hershey by 129.5% in the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after buying an additional 101 shares in the last quarter. Fort Vancouver Investment Management LLC acquired a new stake in Hershey in the first quarter valued at approximately $34,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in Hershey in the first quarter valued at approximately $35,000. 57.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Michele Buck sold 19,290 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $3,472,200.00. Following the transaction, the chief executive officer owned 193,624 shares in the company, valued at $34,852,320. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 61,319 shares in the company, valued at $11,037,420. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,627 shares of company stock worth $16,043,435 over the last three months. Company insiders own 0.34% of the company's stock.

Hershey Trading Up 0.5%

HSY opened at $190.03 on Friday. 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 fifty-two week low of $140.13 and a fifty-two week high of $208.03. The firm has a market capitalization of $38.52 billion, a PE ratio of 25.24, a P/E/G ratio of 4.59 and a beta of 0.27. The company's 50-day moving average is $182.59 and its 200 day moving average is $172.21.

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 the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The company'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. As a group, research analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Mizuho raised their target price on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. 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. Wells Fargo & Company lifted their price target on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Barclays lifted their price target on shares of Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $173.89.

About Hershey

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.

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