The Hershey Company (NYSE:HSY) Receives $188.41 Average PT from Analysts

The Hershey Company (NYSE:HSY) has received an average recommendation of “Reduce” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $185.17.

Several analysts have recently weighed in on HSY shares. Redburn Atlantic started coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Jefferies Financial Group cut their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Piper Sandler raised their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and cut their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $183.00 target price on shares of Hershey in a research report on Tuesday.

Institutional Investors Weigh In On Hershey

A number of institutional investors and hedge funds have recently made changes to their positions in HSY. International Assets Investment Management LLC raised its position in shares of Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Hershey in the second quarter valued at about $82,123,000. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% in 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 in the last quarter. State Street Corp lifted its holdings in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after acquiring an additional 230,077 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $183.95 on Friday. Hershey has a 1-year low of $168.16 and a 1-year high of $211.92. The firm has a market capitalization of $37.22 billion, a PE ratio of 20.71, a PEG ratio of 4.18 and a beta of 0.37. The business’s 50 day moving average is $180.25 and its 200-day moving average is $188.54. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.98%. Hershey’s payout ratio is currently 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.