JPMorgan Chase & Co. Cuts Hershey (NYSE:HSY) Price Target to $151.00

Hershey (NYSE:HSY) had its target price reduced by JPMorgan Chase & Co. from $171.00 to $151.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research firms have also weighed in on HSY. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Sanford C. Bernstein downgraded shares of 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. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Finally, UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $177.47.

Hershey Trading Up 1.6 %

NYSE HSY opened at $154.13 on Thursday. Hershey has a one year low of $150.31 and a one year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The business has a 50 day simple moving average of $172.69 and a 200 day simple moving average of $184.81. The stock has a market capitalization of $31.19 billion, a P/E ratio of 17.76, a P/E/G ratio of 4.31 and a beta of 0.38.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Institutional Investors Weigh In On Hershey

A number of institutional investors have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the 3rd quarter worth approximately $25,000. Grove Bank & Trust lifted its holdings 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. lifted its holdings in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. bought a new position in Hershey in the 3rd quarter valued at $46,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at $48,000. 57.96% of the stock is 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.