Hershey (NYSE:HSY) Price Target Raised to $205.00

Hershey (NYSE:HSY) had its price target raised by Wells Fargo & Company from $200.00 to $205.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts also recently issued reports on the company. Sanford C. Bernstein raised Hershey from a market perform rating to an outperform rating and set a $235.00 target price on the stock in a research report on Monday, January 29th. Piper Sandler decreased their target price on shares of Hershey from $200.00 to $179.00 and set a neutral rating for the company in a research note on Monday, April 15th. Morgan Stanley downgraded shares of Hershey from an equal weight rating to an underweight rating and lowered their target price for the stock from $191.00 to $183.00 in a report on Monday, February 12th. Barclays increased their price target on shares of Hershey from $200.00 to $210.00 and gave the company an equal weight rating in a research note on Monday, February 12th. Finally, Edward Jones restated a hold rating on shares of Hershey in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $213.06.

Hershey Stock Up 0.9 %

Shares of Hershey stock opened at $199.96 on Monday. The firm has a market cap of $40.78 billion, a PE ratio of 19.82, a P/E/G ratio of 3.04 and a beta of 0.33. The business’s 50 day simple moving average is $192.30 and its 200 day simple moving average is $190.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. Hershey has a 52-week low of $178.82 and a 52-week high of $275.89.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned $2.96 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that Hershey will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.74%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $197.90, for a total transaction of $296,850.00. Following the completion of the transaction, the chief financial officer now owns 40,228 shares of the company’s stock, valued at approximately $7,961,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

A number of institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Hershey by 7.7% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company’s stock valued at $141,000 after acquiring an additional 54 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Hershey by 20.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after purchasing an additional 54 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Hershey by 1.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 5,258 shares of the company’s stock worth $1,052,000 after purchasing an additional 55 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Hershey by 1.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock valued at $683,000 after buying an additional 55 shares during the period. Finally, Great Valley Advisor Group Inc. raised its holdings in Hershey by 1.0% in the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock valued at $1,089,000 after buying an additional 57 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.