SG Americas Securities LLC Sells 41,779 Shares of The Hershey Company (NYSE:HSY)

Posted by Defense World Staff on Sep 21st, 2023

SG Americas Securities LLC trimmed its stake in The Hershey Company (NYSE:HSY – Free Report) by 80.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,387 shares of the company’s stock after selling 41,779 shares during the period. SG Americas Securities LLC’s holdings in Hershey were worth $2,594,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Arlington Partners LLC bought a new stake in Hershey in the first quarter valued at $27,000. Zions Bancorporation N.A. grew its position in Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after acquiring an additional 74 shares during the period. Wellington Shields Capital Management LLC bought a new stake in shares of Hershey during the first quarter worth $38,000. ICA Group Wealth Management LLC bought a new stake in shares of Hershey during the fourth quarter worth $36,000. Finally, Close Asset Management Ltd bought a new stake in shares of Hershey during the first quarter worth $40,000. 56.47% of the stock is currently owned by institutional investors.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total transaction of $321,540.00. Following the sale, the chief financial officer now owns 37,316 shares of the company’s stock, valued at $7,999,057.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Michele Buck sold 14,251 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $238.73, for a total transaction of $3,402,141.23. Following the sale, the chief executive officer now owns 111,751 shares of the company’s stock, valued at $26,678,316.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total value of $321,540.00. Following the sale, the chief financial officer now directly owns 37,316 shares in the company, valued at approximately $7,999,057.76. The disclosure for this sale can be found here. Insiders have sold a total of 26,230 shares of company stock valued at $6,449,217 over the last 90 days. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Argus decreased their target price on Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $264.00 to $262.00 in a report on Monday, July 17th. Morgan Stanley decreased their target price on Hershey from $270.00 to $245.00 in a report on Friday, July 28th. Wells Fargo & Company decreased their target price on Hershey from $260.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday, July 28th. Finally, BNP Paribas raised Hershey from a “neutral” rating to an “outperform” rating and set a $268.00 price target on the stock in a research note on Wednesday, July 19th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $264.11.

Check Out Our Latest Stock Analysis on Hershey

Hershey Trading Up 1.1 %

NYSE:HSY opened at $211.31 on Thursday. The Hershey Company has a 1-year low of $206.69 and a 1-year high of $276.88. The business’s 50-day moving average price is $223.43 and its two-hundred day moving average price is $245.26. The company has a current ratio of 1.06, a quick ratio of 0.55 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.61 and a beta of 0.29.

Hershey (NYSE:HSY – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.12. Hershey had a return on equity of 55.74% and a net margin of 16.49%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that The Hershey Company will post 9.55 earnings per share for the current year.

Hershey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were given a dividend of $1.192 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $4.77 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from Hershey’s previous quarterly dividend of $1.04. Hershey’s dividend payout ratio (DPR) is currently 54.89%.

Hershey Profile

(Free Report)

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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.