Hershey (NYSE:HSY) PT Lowered to $195.00 at Bank of America

Hershey (NYSE:HSY) had its price objective cut by Bank of America from $200.00 to $195.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also issued reports on HSY. Royal Bank of Canada reduced their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group lowered Hershey from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $184.00 to $163.00 in a research report on Thursday, September 26th. Barclays reduced their price target on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company reduced their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $195.00.

Hershey Price Performance

Shares of NYSE HSY opened at $183.90 on Tuesday. Hershey has a twelve month low of $178.82 and a twelve month high of $211.92. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $37.19 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 5.44 and a beta of 0.37. The business has a 50 day simple moving average of $194.32 and a 200-day simple moving average of $193.26.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the firm earned $2.01 EPS. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, equities research analysts expect that Hershey will post 9.47 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Riverview Trust Co purchased a new position in Hershey in the first quarter valued at about $29,000. GHP Investment Advisors Inc. grew its stake in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the second quarter valued at about $29,000. Finally, Crewe Advisors LLC purchased a new position in Hershey in the first quarter valued at about $35,000. 57.96% of the stock is 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.