Nwam LLC Buys New Stake in The Hershey Company (NYSE:HSY)

Nwam LLC purchased a new stake in The Hershey Company (NYSE:HSY) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,713 shares of the company’s stock, valued at approximately $329,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after buying an additional 571,766 shares during the period. Confluence Investment Management LLC grew its position in Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hershey during the second quarter valued at approximately $82,123,000. Principal Financial Group Inc. lifted its position in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after purchasing an additional 230,077 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of HSY stock opened at $174.81 on Monday. The company has a market cap of $35.37 billion, a P/E ratio of 20.14, a PEG ratio of 4.19 and a beta of 0.38. The business has a 50 day moving average of $184.51 and a two-hundred day moving average of $190.90. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.13%. Hershey’s dividend payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

HSY has been the topic of several analyst reports. Bank of America dropped their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Barclays lowered their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Piper Sandler lifted their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $189.33.

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.