Hershey (NYSE:HSY) Receives New Coverage from Analysts at Redburn Atlantic

Redburn Atlantic began coverage on shares of Hershey (NYSE:HSY) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a sell rating and a $165.00 price objective on the stock.

HSY has been the subject of a number of other reports. Barclays lowered their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $226.00 to $209.00 in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $193.50.

Hershey Price Performance

NYSE HSY opened at $183.47 on Tuesday. The business has a 50 day simple moving average of $193.41 and a 200 day simple moving average of $192.96. Hershey has a 52-week low of $178.82 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The stock has a market cap of $37.10 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. Analysts anticipate that Hershey will post 9.47 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.99%. Hershey’s dividend payout ratio (DPR) is 54.31%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC boosted its position in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the period. Riverview Trust Co bought a new stake in shares of Hershey in the first quarter valued at about $29,000. GHP Investment Advisors Inc. boosted its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in shares of Hershey in the second quarter valued at about $29,000. Finally, Crewe Advisors LLC bought a new stake in shares of Hershey in the first quarter valued at about $35,000. 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.