Hershey (NYSE:HSY) PT Lowered to $165.00

Hershey (NYSE:HSY) had its price target trimmed by Piper Sandler from $179.00 to $165.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently commented on HSY. Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $184.00 to $163.00 in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Barclays reduced their target price on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Five 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 stock presently has an average rating of “Hold” and an average price target of $191.55.

Hershey Stock Down 0.5 %

HSY stock opened at $181.26 on Wednesday. The stock has a market cap of $36.67 billion, a P/E ratio of 20.14, a P/E/G ratio of 4.22 and a beta of 0.37. 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 stock’s fifty day simple moving average is $192.50 and its two-hundred day simple moving average is $192.72. Hershey has a 1-year low of $178.82 and a 1-year high of $211.92.

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

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.02%. Hershey’s dividend payout ratio is 60.89%.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction that occurred on Monday, August 12th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Large investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its stake in shares of Hershey by 18.8% in the 1st quarter. Park Avenue Securities LLC now owns 5,167 shares of the company’s stock valued at $1,005,000 after acquiring an additional 816 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Hershey by 19.1% during the first quarter. Gateway Investment Advisers LLC now owns 2,663 shares of the company’s stock valued at $518,000 after purchasing an additional 428 shares during the period. Riverview Trust Co bought a new position in shares of Hershey in the first quarter worth approximately $29,000. Sound Income Strategies LLC grew its holdings in shares of Hershey by 13.3% in the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $95,000 after purchasing an additional 57 shares during the last quarter. Finally, Sunbelt Securities Inc. increased 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 worth $160,000 after buying an additional 164 shares during the period. 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.