Wealthfront Advisers LLC Invests $9.57 Million in Hershey Company (The) $HSY

Key Points

• Wealthfront Advisers purchased 54,522 Hershey shares worth approximately $9.57 million during the second quarter. Institutional investors now own 57.96% of the company.
• Hershey reported stronger-than-expected quarterly results, with EPS of $1.90 versus the $1.43 consensus estimate and revenue of $2.79 billion, up 6.6% year over year.
• Analysts maintain a consensus “Hold” rating with a $203.61 price target, while Hershey announced a quarterly dividend of $1.452 per share, representing a 3.1% annualized yield.

Wealthfront Advisers LLC bought a new position in Hershey Company (The) (NYSE:HSY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 54,522 shares of the company's stock, valued at approximately $9,566,000.

Several other large investors have also added to or reduced their stakes in HSY. BlackRock Inc. acquired a new position in Hershey during the 2nd quarter valued at about $2,303,889,000. Norges Bank purchased a new stake in shares of Hershey in the fourth quarter worth approximately $272,506,000. Marshall Wace LLP raised its stake in shares of Hershey by 546.6% in the fourth quarter. Marshall Wace LLP now owns 1,057,476 shares of the company's stock worth $192,439,000 after purchasing an additional 893,940 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Hershey by 315.4% in the first quarter. First Trust Advisors LP now owns 1,083,675 shares of the company's stock valued at $225,285,000 after purchasing an additional 822,772 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Hershey by 150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company's stock valued at $232,731,000 after purchasing an additional 767,478 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $170.00, for a total transaction of $255,000.00. Following the transaction, the chief financial officer owned 53,195 shares of the company's stock, valued at $9,043,150. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group set a $190.00 target price on Hershey in a research report on Thursday, July 16th. Piper Sandler dropped their price objective on Hershey from $249.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $191.00 price objective on shares of Hershey in a research note on Friday, July 31st. Evercore set a $225.00 target price on shares of Hershey in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Hershey from $191.00 to $193.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $203.61.

Hershey Stock Up 3.0%

Hershey stock opened at $189.04 on Thursday. The firm has a 50 day moving average price of $178.15 and a 200-day moving average price of $195.61. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 1.03. Hershey Company has a twelve month low of $161.43 and a twelve month high of $239.48. The company has a market capitalization of $37.98 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.12 and a beta of 0.11.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.47. Hershey had a net margin of 12.24% and a return on equity of 31.92%. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. Hershey's revenue was up 6.6% on a year-over-year basis. Hershey has set its FY 2026 guidance at 8.360-8.520 EPS. As a group, equities analysts predict that Hershey Company will post 8.49 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $1.452 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.81 annualized dividend and a dividend yield of 3.1%. Hershey's payout ratio is presently 79.37%.

About Hershey

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source