Stifel Nicolaus Cuts Hershey (NYSE:HSY) Price Target to $180.00

Hershey (NYSE:HSY) had its price objective trimmed by Stifel Nicolaus from $195.00 to $180.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

HSY has been the topic of a number of other reports. Piper Sandler cut their price objective on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Bank of America dropped their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $191.11.

Hershey Price Performance

HSY opened at $181.26 on Friday. The stock has a fifty day moving average price of $192.50 and a 200 day moving average price of $192.71. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. Hershey has a 1 year low of $178.82 and a 1 year high of $211.92. The stock has a market cap of $36.66 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 4.22 and a beta of 0.37.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Analysts forecast that Hershey will post 9.45 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its stake in shares of Hershey by 24.8% in the first quarter. Sunbelt Securities Inc. now owns 824 shares of the company’s stock valued at $160,000 after acquiring an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Hershey by 62.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 49,407 shares of the company’s stock worth $9,610,000 after purchasing an additional 18,968 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Hershey during the first quarter worth $2,820,000. Vicus Capital acquired a new stake in shares of Hershey in the first quarter valued at $264,000. Finally, Coston McIsaac & Partners raised its holdings in shares of Hershey by 7.1% in the first quarter. Coston McIsaac & Partners now owns 18,704 shares of the company’s stock valued at $3,637,000 after buying an additional 1,236 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

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.