Northwestern Mutual Wealth Management Co. Purchases 1,328 Shares of The Hershey Company (NYSE:HSY)

Northwestern Mutual Wealth Management Co. grew its position in shares of The Hershey Company (NYSE:HSY) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,646 shares of the company’s stock after acquiring an additional 1,328 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Hershey were worth $3,060,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HSY. Capital Advisors Ltd. LLC lifted its holdings in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its stake in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Riverview Trust Co bought a new stake in Hershey in the first quarter valued at $29,000. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter valued at $29,000. Finally, Quarry LP bought a new position in Hershey in the 4th quarter worth $34,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hershey Stock Down 1.3 %

HSY stock opened at $190.99 on Friday. The stock has a market capitalization of $38.62 billion, a P/E ratio of 18.93, a P/E/G ratio of 5.67 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $211.92. The business has a fifty day moving average price of $196.46 and a 200-day moving average price of $193.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the firm posted $2.01 EPS. Equities analysts forecast that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein lowered their target price on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler restated a “neutral” rating and set a $179.00 target price on shares of Hershey in a report on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and an average target price of $198.63.

About Hershey

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.