Hershey (NYSE:HSY) Given New $190.00 Price Target at UBS Group

Hershey (NYSE:HSY) had its target price reduced by UBS Group from $200.00 to $190.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on HSY. Jefferies Financial Group set a $190.00 price objective on shares of Hershey in a research report on Thursday. Morgan Stanley reduced their target price on Hershey from $247.00 to $227.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Mizuho lowered their price target on Hershey from $195.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, May 20th. Finally, Barclays dropped their price target on Hershey from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $212.56.

Hershey Stock Performance

Shares of HSY opened at $174.47 on Thursday. Hershey has a one year low of $161.43 and a one year high of $239.48. The company has a 50-day moving average of $182.50 and a two-hundred day moving average of $197.31. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.03 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. On average, equities research analysts expect that Hershey will post 8.42 earnings per share for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, May 15th. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer directly owned 54,695 shares of the company’s stock, valued at $9,485,753.85. This represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Hershey

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hershey by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company’s stock worth $2,618,000 after purchasing an additional 937 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Hershey by 20.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company’s stock worth $116,000 after acquiring an additional 117 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Hershey during the 2nd quarter valued at about $267,000. Bank of Nova Scotia increased its holdings in shares of Hershey by 4.5% during the 2nd quarter. Bank of Nova Scotia now owns 17,927 shares of the company’s stock valued at $2,975,000 after acquiring an additional 769 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Hershey by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company’s stock valued at $3,692,000 after acquiring an additional 1,149 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.