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

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

A number of other research analysts have also weighed in on HSY. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Wells Fargo & Company dropped their price objective on Hershey from $160.00 to $150.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. UBS Group lowered Hershey from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Jefferies Financial Group dropped their price objective on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of "Hold" and a consensus price target of $177.47.

Hershey Price Performance

HSY stock traded up $2.38 on Thursday, reaching $154.13. 1,973,193 shares of the company's stock were exchanged, compared to its average volume of 2,081,869. The stock has a fifty day moving average of $172.69 and a 200-day moving average of $184.81. Hershey has a twelve month low of $150.31 and a twelve month high of $211.92. The firm has a market cap of $31.19 billion, a PE ratio of 17.76, a P/E/G ratio of 4.31 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.56%. Hershey's payout ratio is currently 63.13%.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock valued at $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company's stock valued at $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Geode Capital Management LLC increased its stake in Hershey by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company's stock valued at $717,606,000 after purchasing an additional 35,688 shares during the last quarter. Principal Financial Group Inc. increased its stake in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company's stock worth $185,027,000 after acquiring an additional 29,507 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.