Hershey (NYSE:HSY) Price Target Lowered to $151.00 at JPMorgan Chase & Co.

Hershey (NYSE:HSY - Free Report) had its target price reduced by JPMorgan Chase & Co. from $171.00 to $151.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $183.00 price objective on shares of Hershey in a research note on Tuesday, December 10th. Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research note on Friday, October 25th. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 price target on the stock. Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Finally, Bank of America reissued a "neutral" rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $176.42.

Hershey Price Performance

NYSE:HSY traded down $1.20 during trading hours on Thursday, hitting $152.82. The company's stock had a trading volume of 1,937,259 shares, compared to its average volume of 2,068,729. Hershey has a 52-week low of $150.31 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The business's 50-day moving average is $171.86 and its two-hundred day moving average is $184.39. The company 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. Hershey's dividend payout ratio (DPR) is presently 63.13%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HSY. Brown Brothers Harriman & Co. lifted its stake in shares of Hershey by 10.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company's stock valued at $119,000 after purchasing an additional 61 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Hershey during the second quarter valued at approximately $82,123,000. Dimensional Fund Advisors LP grew its stake in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company's stock worth $144,743,000 after buying an additional 25,780 shares during the period. Wealth Alliance raised its position in Hershey by 163.6% in the second quarter. Wealth Alliance now owns 2,747 shares of the company's stock valued at $505,000 after purchasing an additional 1,705 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Hershey by 11.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,305 shares of the company's stock worth $2,777,000 after purchasing an additional 1,586 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other 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.