Hershey (NYSE:HSY) Price Target Cut to $204.00

Hershey (NYSE:HSYFree Report) had its target price lowered by Barclays from $210.00 to $204.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the company. Citigroup dropped their price target on Hershey from $213.00 to $199.00 and set a neutral rating for the company in a research report on Thursday, April 11th. Edward Jones reissued a hold rating on shares of Hershey in a research note on Friday, April 19th. Wells Fargo & Company increased their price target on shares of Hershey from $200.00 to $205.00 and gave the stock an equal weight rating in a report on Monday, May 6th. Argus dropped their price objective on shares of Hershey from $240.00 to $225.00 and set a buy rating for the company in a report on Thursday, May 30th. Finally, BNP Paribas cut Hershey from an outperform rating to a neutral rating and set a $208.00 target price on the stock. in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Hershey presently has an average rating of Hold and a consensus price target of $210.22.

View Our Latest Stock Report on Hershey

Hershey Price Performance

Shares of NYSE:HSY opened at $181.97 on Tuesday. The company has a 50 day moving average of $194.20 and a 200 day moving average of $192.31. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The stock has a market cap of $36.80 billion, a P/E ratio of 18.03, a P/E/G ratio of 4.09 and a beta of 0.37. Hershey has a 12 month low of $178.82 and a 12 month high of $261.58.

Hershey (NYSE:HSYGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business earned $2.96 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Hershey will post 9.6 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were given a dividend of $1.37 per share. The ex-dividend date was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.01%. Hershey’s payout ratio is 54.31%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now owns 38,728 shares in the company, valued at $7,196,824.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 4,500 shares of company stock worth $882,405. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Hershey

A number of institutional investors have recently modified their holdings of HSY. Kestra Advisory Services LLC raised its position in Hershey by 51.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 18,316 shares of the company’s stock valued at $3,665,000 after purchasing an additional 6,203 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of Hershey by 13.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 11,170 shares of the company’s stock worth $2,235,000 after buying an additional 1,358 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Hershey during the third quarter valued at approximately $1,332,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Hershey during the third quarter valued at approximately $1,579,000. Finally, Envestnet Asset Management Inc. lifted its stake in Hershey by 53.1% in the third quarter. Envestnet Asset Management Inc. now owns 184,259 shares of the company’s stock worth $36,866,000 after acquiring an additional 63,895 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

About Hershey

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Hershey (NYSE:HSY)

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