The Hershey Company (NYSE:HSY) Given Average Rating of “Reduce” by Analysts

Shares of The Hershey Company (NYSE:HSY) have received a consensus recommendation of “Reduce” from the nineteen research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $184.61.

A number of equities analysts have issued reports on HSY shares. Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus reduced their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a research note on Tuesday, December 10th. Mizuho cut their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Finally, Wells Fargo & Company downgraded Hershey from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $175.00 to $160.00 in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Hershey

A number of large investors have recently made changes to their positions in the stock. Lantz Financial LLC purchased a new stake in shares of Hershey in the second quarter worth about $1,841,000. Commonwealth Equity Services LLC boosted its holdings in Hershey by 2.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 87,962 shares of the company’s stock valued at $16,170,000 after purchasing an additional 2,350 shares during the period. Van ECK Associates Corp boosted its holdings in Hershey by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 30,405 shares of the company’s stock valued at $5,590,000 after purchasing an additional 2,013 shares during the period. nVerses Capital LLC purchased a new position in shares of Hershey during the 2nd quarter valued at $55,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Hershey by 20.9% in the second quarter. CIBC Asset Management Inc now owns 67,375 shares of the company’s stock worth $12,386,000 after purchasing an additional 11,656 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Stock Down 1.4 %

Shares of NYSE:HSY opened at $166.67 on Thursday. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.38 and a beta of 0.38. The business’s 50 day moving average is $175.74 and its 200 day moving average is $186.16. Hershey has a 12-month low of $165.78 and a 12-month high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.29%. Hershey’s payout ratio is 63.13%.

About Hershey

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.