Davis R M Inc. Reduces Stock Position in Hershey Company (The) $HSY

Davis R M Inc. trimmed its position in Hershey Company (The) (NYSE:HSY) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,864 shares of the company’s stock after selling 3,102 shares during the quarter. Davis R M Inc.’s holdings in Hershey were worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSY. Lido Advisors LLC lifted its stake in Hershey by 8.0% during the 1st quarter. Lido Advisors LLC now owns 10,011 shares of the company’s stock valued at $2,082,000 after acquiring an additional 742 shares during the period. CI Investments Inc. increased its stake in shares of Hershey by 2.5% in the first quarter. CI Investments Inc. now owns 7,095 shares of the company’s stock worth $1,475,000 after acquiring an additional 176 shares during the period. First Trust Advisors LP raised its holdings in shares of Hershey by 315.4% during the first quarter. First Trust Advisors LP now owns 1,083,675 shares of the company’s stock worth $225,285,000 after purchasing an additional 822,772 shares during the last quarter. a16z Perennial Management L.P. acquired a new position in Hershey during the first quarter valued at $209,000. Finally, ABN Amro Investment Solutions acquired a new position in Hershey during the first quarter valued at $2,109,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey News Summary

Here are the key news stories impacting Hershey this week:

• Neutral Sentiment: Hershey is set to report quarterly earnings soon, but UBS said the Q2 print is unlikely to be a meaningful catalyst in either direction, implying limited near-term upside from the report. Hershey Q2 Print Unlikely to Be Meaningful Catalyst, UBS Says
• Neutral Sentiment: Several analysts and market commentary pieces say Hershey does not currently have a strong setup for an earnings beat, keeping expectations muted ahead of the report. Hershey (HSY) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Barclays reiterated a Hold rating on HSY, while Stifel cut its price target from $215 to $180 and also moved to Hold, reinforcing a cautious analyst stance. Barclays Sticks to Its Hold Rating for The Hershey Company (HSY)
• Neutral Sentiment: A recent article warned that HSY looks risky after losing ground over the past six months, with shares lagging the broader market, which may be adding to investor caution. 3 Reasons HSY is Risky and 1 Stock to Buy Instead

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total transaction of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at approximately $9,485,753.85. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

Hershey Stock Performance

Shares of NYSE:HSY opened at $172.31 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey Company has a 1 year low of $161.43 and a 1 year high of $239.48. The firm has a market capitalization of $34.95 billion, a PE ratio of 32.09, a P/E/G ratio of 1.07 and a beta of 0.11. The business’s 50 day moving average price is $180.59 and its 200-day moving average price is $196.94.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 EPS. As a group, equities research analysts expect that Hershey Company will post 8.42 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a $1.452 dividend. The ex-dividend date was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. Hershey’s dividend payout ratio is 108.19%.

Analyst Ratings Changes

Several brokerages have weighed in on HSY. Morgan Stanley cut their price target on Hershey from $247.00 to $227.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Jefferies Financial Group set a $190.00 target price on Hershey in a research note on Thursday, July 16th. The Goldman Sachs Group set a $240.00 target price on Hershey in a report on Friday, May 1st. Weiss Ratings cut Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Finally, Mizuho lowered their price objective on Hershey from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $208.28.

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.