Brokerages Set The Hershey Company (NYSE:HSY) Price Target at $184.61

The Hershey Company (NYSE:HSY) has earned an average recommendation of “Reduce” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $184.61.

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler lifted their target price on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Sanford C. Bernstein cut 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 report on Monday, October 7th. Wells Fargo & Company downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $175.00 to $160.00 in a research note on Thursday, December 12th. Finally, Bank of America reissued a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th.

Hershey Stock Down 1.4 %

Shares of NYSE:HSY opened at $166.67 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a 52-week low of $165.78 and a 52-week high of $211.92. The company has a market capitalization of $33.73 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The company has a fifty day moving average of $175.74 and a 200-day moving average of $186.16.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.29%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Hershey during the third quarter worth $46,000. Future Financial Wealth Managment LLC bought a new position in shares of Hershey in the third quarter valued at $48,000. Finally, nVerses Capital LLC acquired a new position in shares of Hershey during the second quarter valued at about $55,000. 57.96% of the stock is owned by institutional investors and hedge funds.

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.