Hershey (NYSE:HSY - Free Report) had its price target trimmed by Wells Fargo & Company from $150.00 to $140.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.
A number of other brokerages also recently weighed in on HSY. Jefferies Financial Group lowered their price target on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a report on Thursday, October 31st. TD Cowen dropped their target price on Hershey from $190.00 to $172.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. UBS Group decreased their price target on shares of Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday. Sanford C. Bernstein lowered shares of Hershey from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $176.42.
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Hershey Trading Down 0.8 %
Shares of HSY stock traded down $1.20 during trading hours on Friday, reaching $152.82. 1,937,259 shares of the stock traded hands, compared to its average volume of 1,299,500. The business has a fifty day moving average price of $171.86 and a 200 day moving average price of $184.39. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $30.92 billion, a PE ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38.
Hershey Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey's dividend payout ratio is 63.13%.
Institutional Investors Weigh In On Hershey
Hedge funds and other institutional investors have recently made changes to their positions in the business. Burns J W & Co. Inc. NY grew its holdings in Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company's stock valued at $1,411,000 after buying an additional 58 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company's stock worth $484,000 after acquiring an additional 59 shares during the last quarter. Park Avenue Securities LLC increased its position in Hershey by 1.1% during the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company's stock worth $1,083,000 after acquiring an additional 62 shares during the period. Salomon & Ludwin LLC increased its position in Hershey by 23.3% during the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company's stock worth $64,000 after acquiring an additional 63 shares during the period. Finally, Forum Financial Management LP raised its stake in Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company's stock valued at $792,000 after purchasing an additional 64 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.
About Hershey
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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.
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