The Hershey Company (NYSE:HSY) Receives $161.40 Average PT from Brokerages

Shares of The Hershey Company (NYSE:HSY) have earned an average rating of “Reduce” from the twenty brokerages that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and fifteen have given a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $161.40.

HSY has been the topic of several recent research reports. Sanford C. Bernstein raised their price objective on shares of Hershey from $147.00 to $155.00 and gave the company a “market perform” rating in a research report on Friday, May 2nd. Barclays upped their price objective on shares of Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Morgan Stanley cut their target price on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. DA Davidson upped their price target on Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus reduced their target price on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, February 7th.

Hershey Stock Up 0.5 %

Shares of NYSE:HSY opened at $171.00 on Wednesday. The firm has a 50 day simple moving average of $168.20 and a 200 day simple moving average of $168.48. The company has a market cap of $34.61 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. Hershey has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business posted $3.07 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. As a group, research analysts expect that Hershey will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, May 16th. Hershey’s dividend payout ratio is 67.57%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its stake in Hershey by 14.9% in the third quarter. Tidal Investments LLC now owns 8,360 shares of the company’s stock valued at $1,603,000 after buying an additional 1,083 shares during the period. Franklin Resources Inc. raised its position in shares of Hershey by 95.4% in the 3rd quarter. Franklin Resources Inc. now owns 218,055 shares of the company’s stock valued at $40,558,000 after acquiring an additional 106,450 shares during the period. Principal Financial Group Inc. grew 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 valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Diversified Trust Co bought a new stake in Hershey in the fourth quarter valued at approximately $200,000. Finally, Douglas Lane & Associates LLC raised its holdings in Hershey by 15.5% in the fourth quarter. Douglas Lane & Associates LLC now owns 317,461 shares of the company’s stock worth $53,762,000 after purchasing an additional 42,550 shares during the period. 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.