Balyasny Asset Management L.P. Invests $125.87 Million in Hershey Company (The) $HSY

Balyasny Asset Management L.P. purchased a new stake in Hershey Company (The) (NYSE:HSY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 758,471 shares of the company’s stock, valued at approximately $125,868,000. Balyasny Asset Management L.P. owned about 0.37% of Hershey at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH acquired a new position in Hershey in the second quarter valued at $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Hershey in the 2nd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC raised its stake in Hershey by 46.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 199 shares of the company’s stock valued at $33,000 after acquiring an additional 63 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Hershey during the 2nd quarter worth approximately $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Hershey during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on HSY shares. UBS Group cut their price target on Hershey from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Hershey from $187.00 to $189.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. DA Davidson cut their price objective on shares of Hershey from $188.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Argus raised shares of Hershey to a “hold” rating in a report on Wednesday, November 26th. Finally, Piper Sandler boosted their price target on shares of Hershey from $167.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Three analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.32.

Insider Transactions at Hershey

In related news, insider Stacy Taffet acquired 200 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $186.19 per share, for a total transaction of $37,238.00. Following the acquisition, the insider directly owned 9,371 shares in the company, valued at approximately $1,744,786.49. The trade was a 2.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kirk Tanner bought 2,000 shares of Hershey stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $185.46 per share, for a total transaction of $370,920.00. Following the acquisition, the chief executive officer directly owned 47,860 shares of the company’s stock, valued at $8,876,115.60. The trade was a 4.36% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 6,000 shares of company stock valued at $1,103,640 over the last three months. 0.34% of the stock is currently owned by insiders.

Hershey Trading Up 0.3%

Shares of HSY stock opened at $182.05 on Friday. The stock has a market cap of $36.92 billion, a P/E ratio of 27.21 and a beta of 0.19. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 1.02. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $199.00. The business has a fifty day simple moving average of $181.85 and a 200-day simple moving average of $179.20.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.24. Hershey had a net margin of 11.84% and a return on equity of 32.08%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company earned $2.34 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. On average, analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 17th. Hershey’s dividend payout ratio (DPR) is 81.91%.

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.