Xponance Inc. Has $7.51 Million Stock Position in The Hershey Company (NYSE:HSY)

Xponance Inc. boosted its stake in The Hershey Company (NYSE:HSY) by 138.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,094 shares of the company’s stock after purchasing an additional 25,019 shares during the quarter. Xponance Inc.’s holdings in The Hershey were worth $7,506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Regentatlantic Capital LLC acquired a new position in The Hershey in the second quarter valued at about $237,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in The Hershey by 47.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 147,685 shares of the company’s stock valued at $25,724,000 after purchasing an additional 47,227 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in The Hershey by 1.9% in the second quarter. Commonwealth Equity Services LLC now owns 67,279 shares of the company’s stock valued at $11,718,000 after purchasing an additional 1,279 shares in the last quarter. Baird Financial Group Inc. raised its stake in The Hershey by 2.1% in the second quarter. Baird Financial Group Inc. now owns 48,378 shares of the company’s stock valued at $8,426,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Cascadia Advisory Services LLC raised its stake in The Hershey by 3.5% in the second quarter. Cascadia Advisory Services LLC now owns 14,797 shares of the company’s stock valued at $2,577,000 after purchasing an additional 495 shares in the last quarter. 52.34% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on HSY shares. Deutsche Bank Aktiengesellschaft lifted their target price on The Hershey from $166.00 to $173.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. BMO Capital Markets lifted their target price on The Hershey from $175.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Piper Sandler lifted their target price on The Hershey from $182.00 to $194.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Royal Bank of Canada lifted their target price on The Hershey from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Finally, Morgan Stanley assumed coverage on The Hershey in a report on Tuesday. They set a “hold” rating and a $180.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, The Hershey has an average rating of “Buy” and an average target price of $177.50.

Shares of HSY stock opened at $174.04 on Friday. The Hershey Company has a one year low of $135.83 and a one year high of $182.71. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.40 and a quick ratio of 0.73. The business’s 50 day simple moving average is $177.28 and its 200 day simple moving average is $170.60. The stock has a market capitalization of $35.86 billion, a PE ratio of 25.30, a PEG ratio of 3.30 and a beta of 0.36.

The Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 29th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The Hershey had a return on equity of 63.62% and a net margin of 16.52%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.85 billion. As a group, research analysts expect that The Hershey Company will post 6.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 20th were given a dividend of $0.901 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from The Hershey’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 19th. The Hershey’s dividend payout ratio is presently 57.23%.

In other news, CEO Michele Buck sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $175.15, for a total transaction of $437,875.00. Following the transaction, the chief executive officer now directly owns 180,497 shares of the company’s stock, valued at $31,614,049.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hershey Trust Co sold 5,500 shares of the company’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $178.48, for a total value of $981,640.00. Following the sale, the insider now owns 59,330 shares of the company’s stock, valued at approximately $10,589,218.40. The disclosure for this sale can be found here. Insiders have sold 15,079 shares of company stock worth $2,674,010 over the last ninety days. 0.32% of the stock is owned by insiders.

The Hershey Profile

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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Institutional Ownership by Quarter for The Hershey (NYSE:HSY)

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