Hershey (NYSE:HSY) Price Target Raised to $168.00 at Piper Sandler

Hershey (NYSE:HSY) had its price objective lifted by Piper Sandler from $165.00 to $168.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

HSY has been the subject of several other research reports. Jefferies Financial Group reduced their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus lowered their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America cut their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Finally, Argus cut Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $189.33.

Hershey Stock Performance

Shares of NYSE:HSY opened at $178.50 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.48 and a current ratio of 0.85. The firm’s 50 day simple moving average is $189.17 and its 200-day simple moving average is $192.20. The firm has a market cap of $36.11 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. Hershey has a one year low of $171.67 and a one year high of $211.92.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

Hedge Funds Weigh In On Hershey

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Hershey by 6.5% in the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after buying an additional 90,329 shares in the last quarter. Principal Financial Group Inc. grew its holdings in 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 acquiring an additional 389,404 shares during the period. Dimensional Fund Advisors LP raised its position in Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after acquiring an additional 147,215 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.