Nuveen LLC Makes New Investment in Hershey Company (The) $HSY

Key Points

• Nuveen LLC has acquired 323,154 shares of Hershey Company stock, valued at approximately $55.27 million, amounting to around 0.16% of the company's total shares.
• Recent insider trading showed CEO Michele Buck sold 31,210 shares for approximately $5.02 million, indicating a decrease in her ownership position by 13.88%.
• Hershey recently declared a quarterly dividend of $1.37 per share, contributing to an annualized yield of 3.0% based on its current stock price.

Nuveen LLC purchased a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 323,154 shares of the company's stock, valued at approximately $55,269,000. Nuveen LLC owned 0.16% of Hershey as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Putney Financial Group LLC acquired a new position in Hershey in the fourth quarter valued at $25,000. Mpwm Advisory Solutions LLC acquired a new position in Hershey in the fourth quarter valued at $28,000. Proffitt & Goodson Inc. acquired a new position in Hershey in the first quarter valued at $28,000. Tradewinds Capital Management LLC boosted its holdings in Hershey by 129.5% in the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Finally, Fort Vancouver Investment Management LLC acquired a new position in Hershey in the first quarter valued at $34,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

HSY stock traded up $0.84 during trading on Monday, reaching $178.83. 662,746 shares of the company's stock were exchanged, compared to its average volume of 1,851,140. 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 Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company's fifty day moving average price is $175.12 and its 200-day moving average price is $168.49. The firm has a market cap of $36.25 billion, a PE ratio of 23.74, a P/E/G ratio of 4.29 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. On average, research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio is currently 72.78%.

Insider Buying and Selling at Hershey

In other news, CEO Michele Buck sold 19,290 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the sale, the chief executive officer owned 193,624 shares in the company, valued at $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the sale, the chief accounting officer owned 2,994 shares of the company's stock, valued at $470,387.34. The trade was a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock valued at $20,931,348 over the last 90 days. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. DA Davidson raised their price objective on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Piper Sandler boosted their price target on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Bank of America boosted their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $168.83.

Hershey 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.