Hershey (NYSE:HSY) PT Lowered to $200.00

Hershey (NYSE:HSYFree Report) had its price objective reduced by Bank of America from $210.00 to $200.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on HSY. Wells Fargo & Company decreased their price target on shares of Hershey from $205.00 to $195.00 and set an equal weight rating for the company in a research note on Friday, June 21st. Royal Bank of Canada reaffirmed a sector perform rating and issued a $213.00 price target on shares of Hershey in a research note on Friday, March 15th. Argus decreased their price target on shares of Hershey from $240.00 to $225.00 and set a buy rating for the company in a research note on Thursday, May 30th. Piper Sandler reaffirmed a neutral rating and issued a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Finally, Edward Jones reaffirmed a hold rating on shares of Hershey in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $209.67.

View Our Latest Research Report on HSY

Hershey Price Performance

Shares of NYSE HSY opened at $185.68 on Wednesday. Hershey has a twelve month low of $178.82 and a twelve month high of $248.93. The firm has a fifty day simple moving average of $193.37 and a 200 day simple moving average of $192.25. The company has a market capitalization of $37.55 billion, a PE ratio of 18.40, a P/E/G ratio of 4.14 and a beta of 0.36. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSYGet Free Report) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm earned $2.96 earnings per share. Hershey’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Hershey will post 9.59 EPS for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s payout ratio is presently 54.31%.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 4,500 shares of company stock worth $859,950. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC boosted its holdings in Hershey by 183.2% during the second quarter. Simplicity Wealth LLC now owns 5,536 shares of the company’s stock worth $1,018,000 after purchasing an additional 3,581 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Hershey by 12.3% in the second quarter. Valeo Financial Advisors LLC now owns 11,582 shares of the company’s stock valued at $2,129,000 after acquiring an additional 1,265 shares during the last quarter. Lantz Financial LLC purchased a new position in Hershey in the second quarter valued at about $1,841,000. LifePro Asset Management boosted its stake in Hershey by 15.1% in the second quarter. LifePro Asset Management now owns 1,501 shares of the company’s stock valued at $276,000 after acquiring an additional 197 shares during the last quarter. Finally, CWM LLC boosted its stake in Hershey by 18.5% in the second quarter. CWM LLC now owns 10,446 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,630 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

About Hershey

(Get Free Report)

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.

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