Wells Fargo & Company Cuts Hershey (NYSE:HSY) Price Target to $150.00

Hershey (NYSE:HSY) had its price target reduced by Wells Fargo & Company from $160.00 to $150.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research firms also recently issued reports on HSY. Barclays reduced their price target on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus lowered their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Six research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $182.21.

Hershey Stock Down 1.8 %

Shares of NYSE:HSY opened at $162.51 on Tuesday. The company has a market capitalization of $32.88 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 4.38 and a beta of 0.38. Hershey has a 12-month low of $159.87 and a 12-month high of $211.92. The business has a 50-day moving average price of $174.53 and a 200 day moving average price of $185.61. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.37%. Hershey’s payout ratio is 63.13%.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Hershey by 30,461.7% during the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hershey in the second quarter valued at approximately $82,123,000. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp lifted its position in shares of Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after buying an additional 230,077 shares in 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.