The Hershey Company (NYSE:HSY) Director Pamela M. Arway Sells 182 Shares of Stock

Posted by Defense World Staff on Oct 11th, 2023

The Hershey Company (NYSE:HSY – Get Free Report) Director Pamela M. Arway sold 182 shares of Hershey stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $194.56, for a total value of $35,409.92. Following the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $3,027,742.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hershey Trading Down 0.7 %

Shares of HSY stock opened at $194.30 on Wednesday. The firm has a market capitalization of $39.73 billion, a P/E ratio of 22.36, a P/E/G ratio of 2.40 and a beta of 0.31. The Hershey Company has a twelve month low of $190.13 and a twelve month high of $276.88. The company has a quick ratio of 0.55, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The stock’s fifty day simple moving average is $212.51 and its 200 day simple moving average is $241.19.

Hershey (NYSE:HSY – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.12. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.50 billion. Hershey had a return on equity of 55.74% and a net margin of 16.49%. Hershey’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, sell-side analysts predict that The Hershey Company will post 9.54 EPS for the current fiscal year.

Hershey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were given a dividend of $1.192 per share. The ex-dividend date was Thursday, August 17th. This represents a $4.77 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Hershey’s previous quarterly dividend of $1.04. Hershey’s payout ratio is currently 54.89%.

Institutional Investors Weigh In On Hershey

Hedge funds and other institutional investors have recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc bought a new stake in Hershey during the 2nd quarter worth $25,000. Institutional & Family Asset Management LLC bought a new stake in shares of Hershey in the 2nd quarter valued at about $25,000. Arlington Partners LLC bought a new stake in shares of Hershey in the 1st quarter valued at about $27,000. Zions Bancorporation N.A. grew its position in shares of Hershey by 121.3% in the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after buying an additional 74 shares during the last quarter. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Hershey in the 3rd quarter valued at about $30,000. Institutional investors own 56.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HSY shares. Morgan Stanley dropped their price objective on Hershey from $270.00 to $245.00 in a report on Friday, July 28th. BNP Paribas raised Hershey from a “neutral” rating to an “outperform” rating and set a $268.00 price objective for the company in a report on Wednesday, July 19th. Mizuho dropped their price objective on Hershey from $263.00 to $233.00 in a report on Monday, July 31st. Argus dropped their price objective on Hershey from $315.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 11th. Finally, Piper Sandler dropped their price objective on Hershey from $285.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, September 22nd. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $262.10.

View Our Latest Research Report on Hershey

Hershey Company Profile

(Get 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.