Hershey (NYSE:HSY) Price Target Lowered to $140.00 at Wells Fargo & Company

Hershey (NYSE:HSY) had its price objective lowered by Wells Fargo & Company from $150.00 to $140.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

HSY has been the topic of a number of other reports. Barclays dropped their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. TD Cowen dropped their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $176.42.

Hershey Price Performance

Shares of NYSE:HSY opened at $152.82 on Friday. Hershey has a twelve month low of $150.31 and a twelve month high of $211.92. The stock’s 50 day moving average is $171.86 and its 200-day moving average is $184.39. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Investors Weigh In On Hershey

A number of hedge funds have recently modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new stake in Hershey during the third quarter valued at about $25,000. Grove Bank & Trust increased its stake in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Hershey in the third quarter valued at approximately $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at approximately $48,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the period. Institutional investors own 57.96% of the company’s stock.

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.