Hershey (NYSE:HSY) Price Target Cut to $179.00 by Analysts at Piper Sandler

Hershey (NYSE:HSY) had its price objective reduced by Piper Sandler from $200.00 to $179.00 in a research report released on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other brokerages have also issued reports on HSY. Morgan Stanley lowered Hershey from an equal weight rating to an underweight rating and decreased their price objective for the company from $191.00 to $183.00 in a research report on Monday, February 12th. Stifel Nicolaus upped their price target on shares of Hershey from $195.00 to $205.00 and gave the company a hold rating in a report on Thursday, January 25th. BNP Paribas lowered shares of Hershey from an outperform rating to a neutral rating and set a $208.00 price objective on the stock. in a report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $213.00 target price on shares of Hershey in a research note on Friday, March 15th. Finally, Wells Fargo & Company lifted their price target on Hershey from $190.00 to $210.00 and gave the company an equal weight rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $223.81.

Hershey Trading Down 1.8 %

HSY opened at $182.53 on Monday. The firm’s fifty day moving average is $193.33 and its two-hundred day moving average is $191.29. The firm has a market cap of $37.23 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34. Hershey has a twelve month low of $178.82 and a twelve month high of $276.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.52 and a current ratio of 0.97.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $2.02 EPS. Equities research analysts anticipate that Hershey will post 9.6 EPS for the current year.

Hershey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Friday, February 16th. This is an increase from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio (DPR) is currently 60.55%.

Insider Activity

In related news, insider Charles R. Raup sold 2,065 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the sale, the insider now directly owns 14,770 shares of the company’s stock, valued at $2,833,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the sale, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at $369,681.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles R. Raup sold 2,065 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the transaction, the insider now owns 14,770 shares of the company’s stock, valued at $2,833,624.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,518 shares of company stock worth $1,066,414. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Hershey

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new stake in shares of Hershey during the third quarter worth about $25,000. Costello Asset Management INC bought a new stake in Hershey during the 3rd quarter worth approximately $25,000. Main Street Group LTD acquired a new position in Hershey in the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in shares of Hershey during the fourth quarter valued at $26,000. Finally, First Financial Corp IN acquired a new position in shares of Hershey during the fourth quarter worth $29,000. Institutional investors own 57.96% of the company’s stock.

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.