Hershey (NYSE:HSY) Price Target Raised to $132.00

Hershey (NYSE:HSY) had its price objective increased by Wells Fargo & Company from $125.00 to $132.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other equities research analysts have also issued reports on HSY. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Jefferies Financial Group cut their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $163.75.

Hershey Trading Down 0.9 %

Shares of HSY opened at $170.32 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. Hershey has a one year low of $140.13 and a one year high of $211.92. The stock has a 50-day moving average price of $162.15 and a 200 day moving average price of $175.74. The company has a market capitalization of $34.47 billion, a P/E ratio of 15.63, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts forecast that Hershey will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Transactions at Hershey

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

Institutional Investors Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the 3rd quarter worth $25,000. Montag & Caldwell LLC acquired a new stake in shares of Hershey in the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey during the 4th quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in Hershey during the 4th quarter valued at approximately $28,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Hershey in the 4th quarter valued at approximately $28,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.