Iron Gate Global Advisors LLC Grows Stock Position in Hershey Company (The) $HSY

Iron Gate Global Advisors LLC lifted its stake in Hershey Company (The) (NYSE:HSY) by 56.3% in the first quarter, HoldingsChannel reports. The firm owned 117,912 shares of the company’s stock after acquiring an additional 42,488 shares during the quarter. Hershey makes up about 2.8% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Iron Gate Global Advisors LLC’s holdings in Hershey were worth $20,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Hershey by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company’s stock valued at $853,720,000 after purchasing an additional 356,249 shares during the period. Royal Bank of Canada boosted its holdings in Hershey by 25.4% in the first quarter. Royal Bank of Canada now owns 2,753,077 shares of the company’s stock valued at $470,858,000 after purchasing an additional 557,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Hershey by 38.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock valued at $275,710,000 after purchasing an additional 453,428 shares during the period. Northern Trust Corp boosted its holdings in Hershey by 0.8% in the first quarter. Northern Trust Corp now owns 1,590,903 shares of the company’s stock valued at $272,092,000 after purchasing an additional 11,946 shares during the period. Finally, Amundi lifted its holdings in Hershey by 40.4% during the 1st quarter. Amundi now owns 1,237,107 shares of the company’s stock worth $208,227,000 after buying an additional 356,105 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 stock opened at $185.71 on Thursday. The stock has a market capitalization of $37.65 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.53 and a beta of 0.27. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock’s 50-day moving average price is $179.86 and its 200 day moving average price is $171.61. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. As a group, equities research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 15th. Hershey’s payout ratio is 72.78%.

Insider Buying and Selling

In related news, SVP James Turoff sold 1,300 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president owned 25,321 shares in the company, valued at $4,431,175. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michele Buck sold 19,290 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $3,472,200.00. Following the transaction, the chief executive officer owned 193,624 shares in the company, valued at $34,852,320. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,127 shares of company stock worth $15,759,755. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on HSY shares. Stifel Nicolaus lifted their price target on Hershey from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price target on Hershey from $173.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. DA Davidson lifted their price target on Hershey from $171.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Barclays boosted their target price on Hershey from $165.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company boosted their target price on Hershey from $135.00 to $154.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Fourteen research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $171.22.

Hershey Company Profile

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.