Hershey (NYSE:HSY) Given “Neutral” Rating at Bank of America

Bank of America restated their neutral rating on shares of Hershey (NYSE:HSY) in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $180.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $185.17.

Hershey Price Performance

Shares of NYSE HSY opened at $183.95 on Thursday. The firm has a market cap of $37.22 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37. The stock has a fifty day simple moving average of $180.11 and a two-hundred day simple moving average of $188.50. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. Hershey has a 1-year low of $168.16 and a 1-year high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.98%. Hershey’s payout ratio is presently 63.13%.

Institutional Trading of Hershey

A number of hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its position in Hershey by 55.0% during 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. Burns J W & Co. Inc. NY lifted its stake in Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after buying an additional 59 shares during the last quarter. Valley Brook Capital Group Inc. increased its stake in Hershey by 1.5% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Hershey by 10.4% during the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock valued at $119,000 after purchasing an additional 61 shares during the period. 57.96% of the stock is owned by institutional investors.

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.