Bingham Private Wealth LLC Sells 176 Shares of Hershey Company (The) $HSY

Bingham Private Wealth LLC reduced its holdings in shares of Hershey Company (The) (NYSE:HSY) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,478 shares of the company’s stock after selling 176 shares during the quarter. Bingham Private Wealth LLC’s holdings in Hershey were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company’s stock valued at $853,720,000 after purchasing an additional 356,249 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Hershey by 25.4% during the first quarter. Royal Bank of Canada now owns 2,753,077 shares of the company’s stock valued at $470,858,000 after purchasing an additional 557,056 shares in the last quarter. Northern Trust Corp lifted its holdings in Hershey by 0.8% in the first quarter. Northern Trust Corp now owns 1,590,903 shares of the company’s stock valued at $272,092,000 after acquiring an additional 11,946 shares during the period. Amundi lifted its holdings in Hershey by 40.4% in the first quarter. Amundi now owns 1,237,107 shares of the company’s stock valued at $208,227,000 after acquiring an additional 356,105 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Hershey by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,569 shares of the company’s stock valued at $174,536,000 after acquiring an additional 17,311 shares during the period. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on HSY shares. Morgan Stanley increased their target price on Hershey from $173.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Wells Fargo & Company increased their target price on Hershey from $154.00 to $157.00 and gave the company an “underweight” rating in a report on Thursday, September 25th. Wall Street Zen raised Hershey from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Sanford C. Bernstein increased their target price on Hershey from $155.00 to $179.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. assumed coverage on Hershey in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $187.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $174.05.

Hershey Stock Performance

NYSE HSY opened at $195.27 on Tuesday. The stock has a market capitalization of $39.59 billion, a PE ratio of 25.93, a P/E/G ratio of 4.71 and a beta of 0.26. The business has a 50 day simple moving average of $185.68 and a two-hundred day simple moving average of $173.44. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03.

Hershey (NYSE:HSY) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were issued a $1.37 dividend. The ex-dividend date was Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.8%. Hershey’s payout ratio is 72.78%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction that occurred 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 approximately $6,852,240. This trade represents a 3.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,704 shares of company stock worth $12,206,910. 0.28% of the stock is currently owned by company insiders.

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.