Hershey (NYSE:HSY) PT Lowered to $200.00

Hershey (NYSE:HSY) had its price target trimmed by Bank of America from $210.00 to $200.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on HSY. Barclays reduced their price objective on Hershey from $210.00 to $204.00 and set an equal weight rating on the stock in a research note on Tuesday, June 18th. Argus reduced their price objective on Hershey from $240.00 to $225.00 and set a buy rating on the stock in a research note on Thursday, May 30th. Citigroup reduced their price objective on Hershey from $213.00 to $199.00 and set a neutral rating on the stock in a research note on Thursday, April 11th. Edward Jones reiterated a hold rating on shares of Hershey in a research note on Friday, April 19th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $213.00 target price on shares of Hershey in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $209.67.

Hershey Stock Up 1.2 %

NYSE:HSY opened at $188.94 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average is $193.01 and its two-hundred day moving average is $192.32. Hershey has a 52 week low of $178.82 and a 52 week high of $248.93. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 4.18 and a beta of 0.36.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.96 earnings per share. Research analysts anticipate that Hershey will post 9.59 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Thursday, May 16th. Hershey’s payout ratio is 54.31%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total transaction of $306,810.00. Following the transaction, the chief financial officer now owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 4,500 shares of company stock valued at $859,950. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new position in shares of Hershey during the fourth quarter worth about $26,000. First Financial Corp IN acquired a new stake in Hershey in the fourth quarter valued at about $29,000. Riverview Trust Co acquired a new stake in Hershey in the first quarter valued at about $29,000. Highlander Capital Management LLC lifted its position in Hershey by 125.3% in the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after purchasing an additional 94 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Hershey in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.