The Hershey Company (NYSE:HSY) SVP Jason Reiman Sells 305 Shares of Stock

Posted by Defense World Staff on Mar 21st, 2023

The Hershey Company (NYSE:HSY – Get Rating) SVP Jason Reiman sold 305 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $245.40, for a total transaction of $74,847.00. Following the sale, the senior vice president now owns 16,934 shares of the company’s stock, valued at $4,155,603.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Jason Reiman also recently made the following trade(s):

On Wednesday, March 15th, Jason Reiman sold 400 shares of Hershey stock. The stock was sold at an average price of $245.00, for a total transaction of $98,000.00.
On Thursday, March 9th, Jason Reiman sold 150 shares of Hershey stock. The stock was sold at an average price of $240.35, for a total transaction of $36,052.50.
On Monday, February 27th, Jason Reiman sold 2,825 shares of Hershey stock. The stock was sold at an average price of $239.52, for a total transaction of $676,644.00.
On Friday, February 24th, Jason Reiman sold 555 shares of Hershey stock. The stock was sold at an average price of $238.92, for a total transaction of $132,600.60.
On Thursday, February 9th, Jason Reiman sold 150 shares of Hershey stock. The shares were sold at an average price of $234.83, for a total transaction of $35,224.50.

Hershey Stock Performance

Shares of NYSE:HSY opened at $244.54 on Tuesday. The company has a market capitalization of $49.90 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 3.38 and a beta of 0.31. The Hershey Company has a 12 month low of $201.42 and a 12 month high of $247.20. The firm’s 50-day moving average is $233.35 and its 200 day moving average is $230.37. The company has a current ratio of 0.80, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01.

Hershey (NYSE:HSY – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.77 by $0.25. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.58 billion. Hershey had a net margin of 15.79% and a return on equity of 57.76%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 EPS. Research analysts predict that The Hershey Company will post 9.39 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, February 17th were issued a dividend of $1.036 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $4.14 annualized dividend and a yield of 1.69%. Hershey’s payout ratio is 52.01%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HSY shares. Credit Suisse Group raised their price target on shares of Hershey from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. UBS Group upgraded shares of Hershey from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $244.00 to $269.00 in a research note on Thursday, December 8th. StockNews.com cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley lifted their target price on shares of Hershey from $231.00 to $246.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hershey from $246.00 to $237.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $244.54.

Hedge Funds Weigh In On Hershey

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Hershey in the 4th quarter valued at about $411,828,000. Wellington Management Group LLP boosted its position in Hershey by 2,693.0% in the 1st quarter. Wellington Management Group LLP now owns 1,094,755 shares of the company’s stock valued at $237,156,000 after buying an additional 1,055,559 shares during the period. Morgan Stanley boosted its position in Hershey by 57.2% in the 4th quarter. Morgan Stanley now owns 2,648,666 shares of the company’s stock valued at $613,352,000 after buying an additional 964,019 shares during the period. Renaissance Technologies LLC boosted its position in Hershey by 20.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,671,367 shares of the company’s stock valued at $789,931,000 after buying an additional 611,100 shares during the period. Finally, BlackRock Inc. boosted its position in Hershey by 3.4% in the 3rd quarter. BlackRock Inc. now owns 14,486,327 shares of the company’s stock valued at $3,193,800,000 after buying an additional 473,552 shares during the period. 54.17% of the stock is currently owned by institutional investors.

Hershey Company Profile

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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America 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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