Morgan Stanley Begins Coverage on Hershey (NYSE:HSY)

Morgan Stanley initiated coverage on shares of Hershey (NYSE:HSY) in a research note released on Monday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $183.00 price target on the stock.

Several other analysts also recently issued reports on HSY. DA Davidson lowered their price target on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Bernstein Bank decreased their target price on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Barclays dropped their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Bank of America restated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price objective on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, February 7th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $162.50.

Hershey Trading Up 1.9 %

HSY stock opened at $168.44 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market cap of $34.09 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 5.90 and a beta of 0.32. The business has a fifty day simple moving average of $163.35 and a 200-day simple moving average of $174.30. Hershey has a 52 week low of $140.13 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, equities research analysts expect that Hershey will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s payout ratio is currently 50.28%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC grew its position in shares of Hershey by 73.6% during the third quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock worth $2,159,000 after acquiring an additional 4,772 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Hershey during the 3rd quarter valued at about $334,000. Nwam LLC bought a new position in Hershey in the 3rd quarter worth about $329,000. Cerity Partners LLC increased its stake in shares of Hershey by 63.2% in the third quarter. Cerity Partners LLC now owns 45,606 shares of the company’s stock valued at $8,747,000 after purchasing an additional 17,654 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Hershey by 1.0% during the third quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock valued at $1,563,000 after buying an additional 80 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

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.