Advisors Capital Management LLC Increases Stock Position in Hershey Company (The) $HSY

Advisors Capital Management LLC boosted its stake in Hershey Company (The) (NYSE:HSY) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,947 shares of the company’s stock after purchasing an additional 503 shares during the quarter. Advisors Capital Management LLC’s holdings in Hershey were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in Hershey in the fourth quarter valued at approximately $25,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the fourth quarter valued at approximately $28,000. Proffitt & Goodson Inc. bought a new position in Hershey during the first quarter valued at approximately $28,000. Tradewinds Capital Management LLC grew its position in Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Finally, Fort Vancouver Investment Management LLC bought a new position in Hershey during the first quarter valued at approximately $34,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on HSY. JPMorgan Chase & Co. began coverage on shares of Hershey in a research report on Wednesday, August 20th. They set a “neutral” rating and a $187.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Hershey from $135.00 to $154.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Piper Sandler increased their price target on shares of Hershey from $160.00 to $167.00 and gave the company an “underweight” rating in a research report on Tuesday. Mizuho increased their price target on shares of Hershey from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus increased their price target on shares of Hershey from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $171.22.

Insider Activity at Hershey

In related news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the completion of the sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $37,563,056. This trade represents a 9.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,127 shares of company stock worth $15,759,755. 0.34% of the stock is currently owned by insiders.

Hershey Stock Down 0.3%

Shares of Hershey stock opened at $184.95 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock has a market capitalization of $37.49 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 4.48 and a beta of 0.27. The company’s 50 day moving average price is $180.35 and its 200-day moving average price is $171.70.

Hershey (NYSE:HSY) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (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 firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s 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 research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $1.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 3.0%. Hershey’s payout ratio is 72.78%.

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.