Truist Financial Corp Cuts Stock Position in Hershey Company (The) $HSY

Key Points

• Truist Financial Corp reduced its stake in Hershey Company by 3.1%, now holding 70,499 shares valued at approximately $11.7 million after selling 2,242 shares in the second quarter.
• Hershey reported second-quarter earnings of $1.21 per share, exceeding analyst expectations by $0.23, alongside a revenue of $2.61 billion, which was also higher than projected.
• The company announced a quarterly dividend of $1.37, resulting in an annualized yield of 2.8%, with a payout ratio of 72.78%.

Truist Financial Corp lowered its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 70,499 shares of the company's stock after selling 2,242 shares during the period. Truist Financial Corp's holdings in Hershey were worth $11,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HSY. Signal Advisors Wealth LLC increased its position in shares of Hershey by 4.5% in the 1st quarter. Signal Advisors Wealth LLC now owns 2,244 shares of the company's stock worth $384,000 after purchasing an additional 96 shares during the last quarter. KFG Wealth Management LLC increased its position in shares of Hershey by 15.7% in the 1st quarter. KFG Wealth Management LLC now owns 5,039 shares of the company's stock worth $862,000 after purchasing an additional 682 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of Hershey in the 1st quarter worth about $286,000. Orrstown Financial Services Inc. increased its position in shares of Hershey by 15.6% in the 1st quarter. Orrstown Financial Services Inc. now owns 2,919 shares of the company's stock worth $499,000 after purchasing an additional 395 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Hershey by 225.9% in the 1st quarter. UMB Bank n.a. now owns 46,777 shares of the company's stock worth $8,000,000 after purchasing an additional 32,422 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Trading Up 3.2%

Shares of NYSE:HSY opened at $195.04 on Friday. The company has a 50 day moving average of $185.47 and a 200-day moving average of $173.19. The firm has a market cap of $39.54 billion, a P/E ratio of 25.90, a P/E/G ratio of 4.71 and a beta of 0.26. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, analysts anticipate that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm 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. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 15th. Hershey's payout ratio is presently 72.78%.

Insider Buying and Selling

In related news, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total value of $3,742,260.00. Following the sale, the chief executive officer directly owned 193,624 shares in the company, valued at $37,563,056. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rohit Grover sold 1,334 shares of the business'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 $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,704 shares of company stock worth $12,206,910 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on HSY shares. Wells Fargo & Company lifted their price target on shares of Hershey from $154.00 to $157.00 and gave the company an "underweight" rating in a report on Thursday, September 25th. Bank of America lifted their price target on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. BNP Paribas Exane raised shares of Hershey from a "neutral" rating to an "outperform" rating in a report on Monday, September 15th. Mizuho lifted their price target on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, DA Davidson lifted their price target on shares of Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $174.05.

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.

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