Piper Sandler Lowers Hershey (NYSE:HSY) Price Target to $153.00

Hershey (NYSE:HSY - Free Report) had its target price decreased by Piper Sandler from $168.00 to $153.00 in a research note issued to investors on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Sanford C. Bernstein lowered Hershey from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Redburn Atlantic assumed coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Hershey from $160.00 to $150.00 and set an "underweight" rating for the company in a report on Tuesday, January 7th. Bank of America reaffirmed a "neutral" rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Jefferies Financial Group decreased their target price on 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 fourteen have given a hold rating to the company. Based on data from MarketBeat.com, Hershey currently has an average rating of "Hold" and an average target price of $176.42.

Hershey Price Performance

Shares of NYSE:HSY traded down $1.20 during trading on Thursday, reaching $152.82. The company had a trading volume of 1,937,259 shares, compared to its average volume of 2,068,729. The firm's fifty day moving average is $171.86 and its 200 day moving average is $184.39. 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 firm has a market capitalization of $30.92 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. Hershey has a twelve month low of $150.31 and a twelve month high of $211.92.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's payout ratio is presently 63.13%.

Hedge Funds Weigh In On Hershey

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in Hershey in the 3rd quarter valued at approximately $25,000. Grove Bank & Trust increased its position in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after acquiring an additional 124 shares during the period. ST Germain D J Co. Inc. raised its stake in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Hershey in the 3rd quarter valued at $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey in the 3rd quarter worth $48,000. 57.96% of the stock is currently 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.