Hershey (NYSE:HSY) PT Raised to $188.00 at JPMorgan Chase & Co.

Hershey (NYSE:HSY) had its target price upped by JPMorgan Chase & Co. from $183.00 to $188.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the company. Citigroup upped their target price on Hershey from $188.00 to $195.00 and gave the company a neutral rating in a research report on Friday. Wells Fargo & Company decreased their target price on Hershey from $205.00 to $195.00 and set an equal weight rating on the stock in a research report on Friday, June 21st. Sanford C. Bernstein decreased their target price on Hershey from $237.00 to $230.00 and set an outperform rating on the stock in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $192.00 to $191.00 and set a hold rating on the stock in a research report on Friday. Finally, Edward Jones reaffirmed a hold rating on shares of Hershey in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $204.50.

Hershey Price Performance

NYSE:HSY opened at $196.02 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average price is $189.85 and its two-hundred day moving average price is $192.74. The firm has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 4.96 and a beta of 0.36. Hershey has a 12-month low of $178.82 and a 12-month high of $230.69.

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 the consensus estimate of $1.44 by ($0.17). The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. On average, analysts anticipate that Hershey will post 9.59 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the sale, the chief financial officer now owns 37,228 shares of the company’s stock, valued at approximately $7,614,615.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 4,500 shares of company stock valued at $867,450. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hershey

A number of large investors have recently modified their holdings of the business. Raleigh Capital Management Inc. lifted its stake in shares of Hershey by 20.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after acquiring an additional 54 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in shares of Hershey by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock valued at $683,000 after acquiring an additional 55 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Hershey by 1.0% in the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock valued at $1,089,000 after acquiring an additional 57 shares during the last quarter. Mount Lucas Management LP lifted its stake in shares of Hershey by 0.6% in the 4th quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock valued at $1,793,000 after acquiring an additional 57 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Hershey by 13.3% in the 1st quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds 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.