Confluence Investment Management LLC Has $126.85 Million Stake in Hershey Company (The) $HSY

Confluence Investment Management LLC lifted its position in Hershey Company (The) (NYSE:HSY) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 764,392 shares of the company’s stock after purchasing an additional 64,966 shares during the quarter. Hershey accounts for 1.8% of Confluence Investment Management LLC’s portfolio, making the stock its 16th largest position. Confluence Investment Management LLC owned about 0.38% of Hershey worth $126,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HSY. GAMMA Investing LLC raised its stake in Hershey by 18,311.7% during the first quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company’s stock worth $1,728,460,000 after acquiring an additional 1,005,127 shares in the last quarter. Pacer Advisors Inc. raised its stake in Hershey by 6,721.3% during the first quarter. Pacer Advisors Inc. now owns 819,446 shares of the company’s stock worth $140,150,000 after acquiring an additional 807,433 shares in the last quarter. Royal Bank of Canada raised its stake in Hershey by 25.4% during the first quarter. Royal Bank of Canada now owns 2,753,077 shares of the company’s stock worth $470,858,000 after acquiring an additional 557,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Hershey by 38.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock worth $275,710,000 after acquiring an additional 453,428 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Hershey by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company’s stock worth $853,720,000 after acquiring an additional 356,249 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Hershey stock opened at $184.95 on Friday. The business’s 50-day simple moving average is $180.35 and its 200 day simple moving average is $171.70. The stock has a market cap 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. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.23. The business had revenue of $2.61 billion for 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 quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, research analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company 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 dividend payout ratio (DPR) is currently 72.78%.

Insider Transactions at Hershey

In related news, SVP James Turoff sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president owned 25,321 shares in the company, valued at $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rohit Grover sold 1,334 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were 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 in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,127 shares of company stock worth $15,759,755 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. Mizuho increased their price objective on Hershey from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Sanford C. Bernstein increased their price objective on Hershey from $155.00 to $179.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Stifel Nicolaus increased their target price on Hershey from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. DA Davidson increased their target price on Hershey from $171.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Bank of America increased their target price on Hershey from $175.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Fourteen analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Reduce” and a consensus price target of $171.22.

Hershey Profile

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.