Royal Bank of Canada Cuts Hershey (NYSE:HSY) Price Target to $183.00

Hershey (NYSE:HSY - Free Report) had its target price lowered by Royal Bank of Canada from $205.00 to $183.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other research analysts have also issued research reports about the stock. Argus lowered shares of Hershey from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They set a "sell" rating and a $185.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Hershey from $191.00 to $199.00 and gave the stock a "hold" rating in a research report on Tuesday, September 10th. Redburn Atlantic began coverage on Hershey in a research report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research note on Friday, October 25th. Five research 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 price target of $190.56.

Hershey Stock Up 1.6 %

Shares of HSY traded up $2.81 during trading hours on Friday, hitting $175.66. 3,114,939 shares of the company were exchanged, compared to its average volume of 1,686,864. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The company has a market cap of $35.53 billion, a PE ratio of 20.24, a PEG ratio of 4.14 and a beta of 0.38. The firm's 50 day moving average is $189.17 and its 200-day moving average is $192.13. Hershey has a 52 week low of $171.67 and a 52 week high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.16). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities research analysts forecast that Hershey will post 9.39 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio is 63.13%.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the 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 completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Hershey

A number of large investors have recently bought and sold shares of the business. LPL Financial LLC grew its holdings in shares of Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company's stock worth $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company's stock worth $1,353,000 after acquiring an additional 4,468 shares during the last quarter. SG Americas Securities LLC increased its position in Hershey by 239.2% in the 1st quarter. SG Americas Securities LLC now owns 22,035 shares of the company's stock valued at $4,286,000 after acquiring an additional 15,538 shares in the last quarter. Sei Investments Co. raised its stake in shares of Hershey by 2.2% in the first quarter. Sei Investments Co. now owns 54,540 shares of the company's stock worth $10,608,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Hershey by 20.1% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company's stock worth $2,986,000 after purchasing an additional 2,635 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

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.