Key Points
- Hershey CFO Steven Voskuil sold 1,500 shares on June 18 at an average price of $173.43, totaling about $260,145. After the sale, he still held 54,695 shares worth roughly $9.49 million.
- Hershey recently beat earnings expectations, reporting $2.35 EPS versus the $2.04 consensus, with quarterly revenue of $3.10 billion, up 10.7% year over year.
- The company continues to pay a sizable dividend, with a quarterly payout of $1.452 per share and a 3.4% yield, though its payout ratio is high at 108.19%.
Hershey Company (The) (NYSE:HSY - Get Free Report) CFO Steven Voskuil sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the completion of the sale, the chief financial officer directly owned 54,695 shares in the company, valued at $9,485,753.85. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Hershey Stock Performance
NYSE:HSY opened at $171.10 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a market capitalization of $34.71 billion, a P/E ratio of 31.86, a PEG ratio of 1.04 and a beta of 0.09. The company has a 50 day moving average price of $187.55 and a 200 day moving average price of $198.23. Hershey Company has a fifty-two week low of $160.07 and a fifty-two week high of $239.48.
Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that Hershey Company will post 8.45 EPS for the current year.
Hershey Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $1.452 dividend. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Hershey's payout ratio is currently 108.19%.
Institutional Investors Weigh In On Hershey
A number of large investors have recently modified their holdings of HSY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hershey by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company's stock worth $2,618,000 after buying an additional 937 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Hershey by 20.2% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company's stock worth $116,000 after purchasing an additional 117 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Hershey during the second quarter worth approximately $267,000. Bank of Nova Scotia lifted its position in shares of Hershey by 4.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,927 shares of the company's stock worth $2,975,000 after buying an additional 769 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Hershey by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company's stock worth $3,692,000 after buying an additional 1,149 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Zacks Research cut Hershey from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. TD Cowen raised shares of Hershey from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Friday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $249.00 price objective on shares of Hershey in a research note on Wednesday, February 25th. Mizuho reduced their target price on shares of Hershey from $195.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, May 20th. Finally, BTIG Research assumed coverage on shares of Hershey in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Hershey presently has an average rating of "Hold" and an average price target of $218.06.
Get Our Latest Report on Hershey
Hershey Company Profile
(
Get Free Report)
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.
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