Hershey (NYSE:HSY) Given New $168.00 Price Target at Piper Sandler

Hershey (NYSE:HSY) had its target price hoisted by Piper Sandler from $165.00 to $168.00 in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Redburn Atlantic assumed coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Bank of America lowered their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $190.56.

Hershey Price Performance

HSY traded up $2.82 during trading on Friday, reaching $175.67. 3,115,302 shares of the company were exchanged, compared to its average volume of 1,375,510. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 4.09 and a beta of 0.38. Hershey has a 12-month low of $171.67 and a 12-month high of $211.92. The company’s 50-day moving average is $189.17 and its two-hundred day moving average is $192.13.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.16). The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.07 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Research analysts forecast that Hershey will post 9.39 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.12%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC bought a new position in Hershey in the third quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its position in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new stake in Hershey during the second quarter valued at approximately $29,000. Finally, Crewe Advisors LLC purchased a new stake in Hershey during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.