US Bancorp DE Sells 5,817 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• US Bancorp DE reduced its stake in Hershey Company by 1.4%, selling 5,817 shares, and now holds approximately 0.20% of the company's stock valued at $68 million.
• Hershey recently reported stronger-than-expected earnings, with a 26.0% increase in quarterly revenue compared to the previous year, totaling $2.61 billion.
• The company announced a quarterly dividend of $1.37 per share, yielding 2.9%, with a payout ratio of 72.78%.

US Bancorp DE lowered its position in Hershey Company (The) (NYSE:HSY - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 397,782 shares of the company's stock after selling 5,817 shares during the period. US Bancorp DE owned approximately 0.20% of Hershey worth $68,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Capital International Investors lifted its stake in shares of Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. Geode Capital Management LLC increased its stake in Hershey by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after purchasing an additional 47,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Hershey by 38.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Hershey by 10.8% during the fourth quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock valued at $267,396,000 after purchasing an additional 154,238 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Hershey by 7.3% during the fourth quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock valued at $217,222,000 after purchasing an additional 87,498 shares during the period. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

NYSE HSY opened at $188.70 on Friday. The firm's fifty day simple moving average is $170.58 and its two-hundred day simple moving average is $166.11. The firm has a market capitalization of $38.23 billion, a P/E ratio of 25.06, a P/E/G ratio of 4.49 and a beta of 0.30. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. Analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HSY shares. Piper Sandler lifted their price objective on shares of Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday. UBS Group reduced their target price on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Barclays boosted their price target on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday. Sanford C. Bernstein increased their price objective on Hershey from $155.00 to $179.00 and gave the stock a "market perform" rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their target price on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $168.37.

Insider Buying and Selling

In related news, SVP James Turoff sold 1,300 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 118,311 shares of company stock worth $20,931,348 over the last ninety days. Company insiders own 0.34% of the company's stock.

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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