CIBC Asset Management Inc Sells 10,306 Shares of Hershey Company (The) $HSY

CIBC Asset Management Inc lowered its position in shares of Hershey Company (The) (NYSE:HSY) by 17.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,540 shares of the company’s stock after selling 10,306 shares during the quarter. CIBC Asset Management Inc’s holdings in Hershey were worth $8,893,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Hershey in the second quarter worth $234,386,000. Balyasny Asset Management L.P. purchased a new stake in Hershey in the second quarter worth approximately $125,868,000. Equity Investment Corp purchased a new stake in Hershey during the 2nd quarter valued at $73,706,000. Holocene Advisors LP increased its position in Hershey by 44.7% during the second quarter. Holocene Advisors LP now owns 1,232,595 shares of the company’s stock valued at $204,549,000 after acquiring an additional 380,512 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Hershey by 173.7% in the second quarter. Citigroup Inc. now owns 534,567 shares of the company’s stock worth $88,711,000 after purchasing an additional 339,240 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of HSY opened at $190.00 on Tuesday. The stock has a 50-day moving average of $186.56 and a two-hundred day moving average of $183.92. The stock has a market cap of $38.53 billion, a P/E ratio of 28.40 and a beta of 0.18. Hershey Company has a one year low of $140.13 and a one year high of $201.86. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.83 and a current ratio of 1.36.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 30th. The company reported $1.30 earnings per share (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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. As a group, research analysts predict that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 17th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.9%. Hershey’s dividend payout ratio is presently 81.91%.

Insider Buying and Selling at Hershey

In related news, CEO Kirk Tanner purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $185.46 per share, with a total value of $370,920.00. Following the completion of the acquisition, the chief executive officer owned 47,860 shares in the company, valued at $8,876,115.60. This trade represents a 4.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $198.67, for a total transaction of $298,005.00. Following the completion of the transaction, the chief financial officer owned 52,319 shares in the company, valued at $10,394,215.73. The trade was a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,000 shares of company stock worth $1,119,450. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HSY shares. TD Cowen cut their price target on Hershey from $204.00 to $200.00 and set a “hold” rating for the company in a report on Friday, October 31st. Evercore ISI reiterated a “positive” rating on shares of Hershey in a research report on Friday, October 31st. Stifel Nicolaus upped their target price on shares of Hershey from $185.00 to $195.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Barclays set a $210.00 target price on Hershey in a research report on Friday, January 16th. Finally, Morgan Stanley upgraded Hershey from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $195.00 to $211.00 in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $191.83.

About Hershey

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.