Tompkins Financial Corp Decreases Stake in Hershey Company (The) $HSY

Key Points

• Tompkins Financial Corp reduced its holdings in Hershey Company by 60.2%, now owning 1,191 shares worth $198,000 after selling 1,800 shares in the second quarter.
• Hershey reported earnings of $1.21 per share for the last quarter, surpassing estimates, with a revenue of $2.61 billion, a year-over-year increase of 26.0%.
• The company declared a quarterly dividend of $1.37, translating to an annualized dividend yield of 2.9%, with a payout ratio of 72.78%.

Tompkins Financial Corp lowered its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 60.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the company's stock after selling 1,800 shares during the period. Tompkins Financial Corp's holdings in Hershey were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HSY. Putney Financial Group LLC bought a new stake in Hershey in the fourth quarter worth $25,000. Proffitt & Goodson Inc. bought a new stake in Hershey in the first quarter worth $28,000. Tradewinds Capital Management LLC increased its position in Hershey by 129.5% in 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 last quarter. Fort Vancouver Investment Management LLC bought a new stake in Hershey in the first quarter worth $34,000. Finally, MorganRosel Wealth Management LLC bought a new stake in Hershey in the first quarter worth $35,000. Institutional investors own 57.96% of the company's stock.

Insider Buying and Selling at Hershey

In other news, insider Rohit Grover sold 1,334 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 transaction of $240,120.00. Following the sale, the insider owned 38,068 shares of the company's stock, valued at $6,852,240. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $3,472,200.00. Following the sale, the chief executive officer directly owned 193,624 shares in the company, valued at $34,852,320. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,627 shares of company stock worth $16,043,435 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HSY shares. The Goldman Sachs Group upgraded shares of Hershey from a "sell" rating to a "buy" rating and upped their price target for the stock from $170.00 to $222.00 in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Sanford C. Bernstein upped their price target on shares of Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Bank of America upped their price target on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Barclays upped 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $173.89.

Hershey Stock Up 0.5%

Shares of HSY stock traded up $0.95 during mid-day trading on Friday, hitting $190.03. 3,209,098 shares of the stock traded hands, compared to its average volume of 1,174,208. The stock has a market cap of $38.52 billion, a P/E ratio of 25.24, a P/E/G ratio of 4.57 and a beta of 0.27. The stock's fifty day moving average is $182.59 and its two-hundred day moving average is $172.24. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. 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 (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The company's quarterly revenue was up 26.0% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities analysts predict that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

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

Hershey Company 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.