Hershey (NYSE:HSY) Price Target Cut to $165.00 by Analysts at Piper Sandler

Hershey (NYSE:HSY) had its price target trimmed by Piper Sandler from $179.00 to $165.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Hershey from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $184.00 to $163.00 in a report on Thursday, September 26th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Bank of America dropped their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $192.80.

Hershey Stock Down 0.8 %

Hershey stock opened at $181.98 on Wednesday. The firm has a 50 day simple moving average of $193.04 and a 200 day simple moving average of $192.88. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. Hershey has a 1-year low of $178.82 and a 1-year high of $211.92. The firm has a market capitalization of $36.80 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, analysts predict that Hershey will post 9.47 earnings per share for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Hershey

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the period. International Assets Investment Management LLC lifted its stake in Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after acquiring an additional 571,766 shares during the period. Confluence Investment Management LLC boosted its holdings in Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hershey during the 2nd quarter valued at $82,123,000. Finally, Bryn Mawr Capital Management LLC raised its holdings in Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after purchasing an additional 249,129 shares in the last quarter. 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.