Gabelli Funds LLC Has $2.82 Million Stock Position in Hershey Company (The) $HSY

Gabelli Funds LLC grew its stake in Hershey Company (The) (NYSE:HSY) by 30.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,000 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Gabelli Funds LLC’s holdings in Hershey were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in Hershey during the first quarter worth $36,000. Nuveen LLC bought a new stake in shares of Hershey in the 1st quarter worth about $55,269,000. Public Sector Pension Investment Board increased its position in shares of Hershey by 8.2% during the 1st quarter. Public Sector Pension Investment Board now owns 20,046 shares of the company’s stock worth $3,428,000 after purchasing an additional 1,524 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Hershey by 3.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 57,543 shares of the company’s stock worth $9,833,000 after purchasing an additional 1,854 shares in the last quarter. Finally, Prudential PLC lifted its holdings in Hershey by 399.3% during the 1st quarter. Prudential PLC now owns 43,356 shares of the company’s stock valued at $7,415,000 after purchasing an additional 34,673 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.6%

NYSE:HSY opened at $179.78 on Thursday. The stock’s fifty day moving average price is $182.26 and its two-hundred day moving average price is $179.00. The company has a market cap of $36.46 billion, a price-to-earnings ratio of 26.87 and a beta of 0.19. Hershey Company has a 52-week low of $140.13 and a 52-week high of $199.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.83 and a current ratio of 1.36.

Hershey (NYSE:HSY) last released its earnings results on Thursday, October 30th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a return on equity of 32.08% and a net margin of 11.84%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. On average, analysts anticipate that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 17th. Hershey’s dividend payout ratio (DPR) is 81.91%.

Analyst Ratings Changes

HSY has been the topic of several research analyst reports. Jefferies Financial Group began coverage on shares of Hershey in a research note on Thursday, December 4th. They set a “hold” rating and a $181.00 price objective on the stock. DA Davidson reduced their target price on Hershey from $188.00 to $185.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Barclays set a $188.00 price target on Hershey in a report on Monday, November 3rd. Piper Sandler lifted their price objective on Hershey from $167.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Finally, Morgan Stanley boosted their price objective on Hershey from $184.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average price target of $182.79.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $179.56, for a total value of $269,340.00. Following the transaction, the chief financial officer directly owned 55,319 shares of the company’s stock, valued at approximately $9,933,079.64. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kirk Tanner bought 2,000 shares of the stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $185.46 per share, with a total value of $370,920.00. Following the acquisition, the chief executive officer directly owned 47,860 shares in the company, valued at approximately $8,876,115.60. This trade represents a 4.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 6,000 shares of company stock worth $1,103,640 in the last quarter. 0.34% of the stock is 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.