Hershey (NYSE:HSY) Rating Increased to Neutral at Citigroup

Citigroup upgraded shares of Hershey (NYSE:HSY) from a sell rating to a neutral rating in a research note released on Friday, Marketbeat reports. They currently have $154.00 price target on the stock, down from their prior price target of $159.00.

Several other research analysts have also weighed in on the stock. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Bernstein Bank decreased their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a report on Wednesday. Bank of America restated a “neutral” rating and set a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. TD Cowen decreased their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Six equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $166.35.

Hershey Stock Performance

Shares of Hershey stock opened at $154.98 on Friday. 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’s 50 day moving average is $164.81 and its two-hundred day moving average is $180.78. The firm has a market capitalization of $31.36 billion, a P/E ratio of 17.85, a P/E/G ratio of 4.30 and a beta of 0.38. Hershey has a 52 week low of $140.13 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 43.24% and a net margin of 16.17%. Research analysts forecast that Hershey will post 9.06 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio is presently 63.13%.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hershey

Several large investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hershey during the third quarter worth approximately $1,337,000. Principal Financial Group Inc. grew its stake in shares of Hershey by 66.7% in the 3rd 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 during the last quarter. Woodstock Corp increased its holdings in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after buying an additional 1,780 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after purchasing an additional 45,936 shares during the period. Finally, Pensionfund Sabic lifted its holdings in shares of Hershey by 55.6% during the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds 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.