Johnson Investment Counsel Inc. Has $4.21 Million Position in Hershey Company (The) $HSY

Johnson Investment Counsel Inc. reduced its holdings in Hershey Company (The) (NYSE:HSY) by 34.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,393 shares of the company’s stock after selling 13,457 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Hershey were worth $4,214,000 as of its most recent SEC filing.

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

Hershey Stock Down 0.2%

Hershey stock opened at $192.19 on Monday. The firm has a market capitalization of $38.96 billion, a PE ratio of 25.52, a P/E/G ratio of 4.64 and a beta of 0.26. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. The company’s 50-day moving average is $186.17 and its 200-day moving average is $174.16. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03.

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

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.9%. Hershey’s payout ratio is presently 72.78%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho lifted their price target on shares of Hershey from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. BNP Paribas Exane upgraded shares of Hershey from a “neutral” rating to an “outperform” rating in a research note on Monday, September 15th. Piper Sandler boosted their price objective on shares of Hershey from $160.00 to $167.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 9th. UBS Group boosted their price objective on shares of Hershey from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, DA Davidson boosted their price objective on shares of Hershey from $171.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Two investment 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 MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $175.89.

Insider Buying and Selling

In related news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares of the company’s stock, valued at approximately $6,852,240. The trade was a 3.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the sale, the chief executive officer directly owned 193,624 shares of the company’s stock, valued at $37,563,056. The trade was a 9.06% 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 valued at $12,206,910. Company insiders own 0.28% of the company’s stock.

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.