Barclays Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its target price reduced by Barclays from $180.00 to $170.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Mizuho cut their price target on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Jefferies Financial Group cut their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. UBS Group decreased their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. Six analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Stock Performance

Shares of HSY stock opened at $152.82 on Friday. The company has a market capitalization of $30.92 billion, a P/E ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. Hershey has a 12-month low of $150.31 and a 12-month high of $211.92. The business’s 50 day moving average is $171.86 and its two-hundred day moving average is $184.39. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued 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 3.59%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position 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 valued at $1,100,130,000 after purchasing an additional 571,766 shares during the period. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares during the period. State Street Corp raised its holdings in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Hershey by 31.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after buying an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Company Profile

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.