Hershey (NYSE:HSY) Price Target Lowered to $183.00 at Royal Bank of Canada

Hershey (NYSE:HSY) had its price objective reduced by Royal Bank of Canada from $205.00 to $183.00 in a report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts also recently weighed in on the stock. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Redburn Atlantic started coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Finally, Bank of America cut their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Stock Up 1.6 %

NYSE HSY opened at $178.50 on Friday. The stock’s 50-day moving average price is $189.17 and its 200-day moving average price is $192.20. The company has a market capitalization of $36.11 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. The company has a quick ratio of 0.48, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 52 week low of $171.67 and a 52 week high of $211.92.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its position in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management purchased a new position in shares of Hershey during the 2nd quarter valued at approximately $29,000. Finally, Crewe Advisors LLC acquired a new stake in Hershey in the 1st quarter valued at $35,000. 57.96% of the stock is currently owned by hedge funds and other 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.