Wells Fargo & Company Trims Hershey (NYSE:HSY) Target Price to $195.00

Hershey (NYSE:HSY) had its price target trimmed by Wells Fargo & Company from $205.00 to $195.00 in a report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also commented on the stock. Citigroup dropped their price objective on shares of Hershey from $213.00 to $199.00 and set a neutral rating for the company in a research note on Thursday, April 11th. Barclays cut their price target on shares of Hershey from $210.00 to $204.00 and set an equal weight rating on the stock in a report on Tuesday, June 18th. Edward Jones reissued a hold rating on shares of Hershey in a research note on Friday, April 19th. Piper Sandler dropped their target price on Hershey from $200.00 to $179.00 and set a neutral rating for the company in a research report on Monday, April 15th. Finally, BNP Paribas downgraded Hershey from an outperform rating to a neutral rating and set a $208.00 price target on the stock. in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hershey presently has an average rating of Hold and an average target price of $209.67.

Hershey Stock Performance

Hershey stock opened at $182.09 on Friday. The company’s 50-day moving average price is $194.13 and its 200-day moving average price is $192.30. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The company has a market cap of $36.82 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37. Hershey has a twelve month low of $178.82 and a twelve month high of $261.58.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.96 earnings per share. On average, equities research analysts forecast that Hershey will post 9.6 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.01%. Hershey’s payout ratio is presently 54.31%.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total value of $306,810.00. Following the completion of the transaction, the chief financial officer now owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the last quarter. Norges Bank purchased a new position in Hershey in the fourth quarter worth $349,448,000. International Assets Investment Management LLC raised its stake in shares of Hershey by 18,495.8% during the 4th quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock valued at $55,125,000 after buying an additional 294,083 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its holdings in shares of Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Hershey by 98.4% in the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after buying an additional 208,293 shares during the last quarter. Hedge funds and other 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.