Hershey (NYSE:HSY) Stock Gets Price Target Reduction from Barclays

Hershey (NYSE:HSY) had its price objective trimmed by Barclays from $178.00 to $171.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Evercore raised their target price on shares of Hershey from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Weiss Ratings upgraded shares of Hershey from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $183.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Finally, TD Cowen lowered shares of Hershey from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $198.00 to $173.00 in a report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $193.81.

Hershey Price Performance

HSY stock opened at $174.45 on Monday. The stock has a market capitalization of $35.05 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.51 and a beta of 0.08. The firm’s 50-day moving average price is $168.67 and its two-hundred day moving average price is $188.61. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 0.92. Hershey has a 12-month low of $156.16 and a 12-month high of $239.48.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 29th. The company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.53. Hershey had a return on equity of 37.12% and a net margin of 14.63%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm earned $1.30 earnings per share. Hershey’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts predict that Hershey will post 8.63 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be given a dividend of $1.4520 per share. This represents a $5.81 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Hershey’s dividend payout ratio is 65.72%.

Institutional Investors Weigh In On Hershey

Institutional investors have recently made changes to their positions in the company. Equity Investment Corp raised its holdings in shares of Hershey by 9.6% in the third quarter. Equity Investment Corp now owns 627,263 shares of the company’s stock worth $98,863,000 after buying an additional 54,827 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Hershey by 14.9% during the third quarter. New York Life Investment Management LLC now owns 25,326 shares of the company’s stock worth $3,992,000 after buying an additional 3,279 shares during the period. AlphaCore Capital LLC grew its holdings in shares of Hershey by 11.1% during the third quarter. AlphaCore Capital LLC now owns 6,741 shares of the company’s stock valued at $1,062,000 after buying an additional 673 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Hershey by 16.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,577 shares of the company’s stock valued at $1,207,000 after buying an additional 1,055 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Hershey in the 3rd quarter valued at $3,407,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.

Hershey’s portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey’s, Reese’s, Hershey’s Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot’s Pretzels.