Wealthspire Advisors LLC Acquires 6,383 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Wealthspire Advisors LLC increased its stake in Hershey Company by 107.3%, acquiring an additional 6,383 shares to reach a total of 12,332 shares, valued at over $2 million.
• Hershey's recent quarterly earnings exceeded expectations with an EPS of $1.21, surpassing estimates by $0.23, and reported revenue of $2.61 billion, a 26% increase compared to the previous year.
• The company announced a quarterly dividend of $1.37 per share, with an ex-dividend date of August 15th, reflecting a dividend yield of 3.0%.

Wealthspire Advisors LLC lifted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 107.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,332 shares of the company's stock after purchasing an additional 6,383 shares during the period. Wealthspire Advisors LLC's holdings in Hershey were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HSY. Capital International Investors lifted its stake in shares of Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Hershey by 38.6% during the 4th 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 raised its position in Hershey by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after purchasing an additional 154,238 shares during the last quarter. Invesco Ltd. raised its position in Hershey by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock worth $217,222,000 after purchasing an additional 87,498 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Hershey by 13.7% during the 4th quarter. Stifel Financial Corp now owns 1,096,767 shares of the company's stock worth $185,743,000 after purchasing an additional 132,019 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Activity at Hershey

In other news, SVP James Turoff sold 1,300 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,311 shares of company stock valued at $20,931,348 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Hershey Trading Down 1.8%

Shares of Hershey stock traded down $3.29 during trading on Friday, reaching $184.21. 1,655,457 shares of the stock were exchanged, compared to its average volume of 1,824,238. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The stock's fifty day moving average is $173.53 and its 200 day moving average is $167.31. The firm has a market cap of $37.34 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 4.52 and a beta of 0.27. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03.

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 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 last year, the business posted $1.27 earnings per share. Hershey's quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts expect that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. Hershey's dividend payout ratio (DPR) is 72.78%.

Analyst Ratings Changes

Several research firms have recently weighed in on HSY. Wall Street Zen raised Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus raised their target price on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Mizuho raised their target price on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Piper Sandler raised their target price on Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $169.68.

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.