Hershey (NYSE:HSY) Price Target Raised to $210.00 at Bank of America

Hershey (NYSE:HSY) had its target price increased by Bank of America from $200.00 to $210.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

HSY has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on Hershey from $187.00 to $189.00 and gave the company a “neutral” rating in a report on Monday, October 20th. UBS Group decreased their price objective on shares of Hershey from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Jefferies Financial Group initiated coverage on shares of Hershey in a research report on Thursday, December 4th. They issued a “hold” rating and a $181.00 target price for the company. The Goldman Sachs Group upgraded shares of Hershey from a “sell” rating to a “buy” rating and boosted their price target for the company from $170.00 to $222.00 in a research report on Tuesday, September 16th. Finally, Morgan Stanley raised Hershey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $195.00 to $211.00 in a research report on Monday. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $184.95.

Hershey Stock Up 0.7%

NYSE HSY opened at $189.40 on Friday. Hershey has a 1 year low of $140.13 and a 1 year high of $199.00. The stock has a market capitalization of $38.41 billion, a PE ratio of 28.31 and a beta of 0.19. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.36 and a quick ratio of 0.83. The business’s 50-day moving average is $181.32 and its 200 day moving average is $180.21.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.24. Hershey had a return on equity of 32.08% and a net margin of 11.84%.The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the company posted $2.34 EPS. Hershey’s quarterly revenue was up 6.5% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. Sell-side analysts forecast that Hershey will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 17th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey’s payout ratio is presently 81.91%.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $188.51, for a total value of $282,765.00. Following the sale, the chief financial officer owned 53,819 shares in the company, valued at $10,145,419.69. This represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kirk Tanner acquired 2,000 shares of Hershey stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $185.46 per share, with a total value of $370,920.00. Following the transaction, the chief executive officer owned 47,860 shares in the company, valued at $8,876,115.60. This represents a 4.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 6,000 shares of company stock worth $1,102,725. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hershey

Institutional investors have recently modified their holdings of the stock. SJS Investment Consulting Inc. raised its position in shares of Hershey by 1,537.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 131 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Hershey during the 3rd quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new stake in Hershey during the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Hershey in the second quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in shares of Hershey by 46.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 199 shares of the company’s stock worth $33,000 after buying an additional 63 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.