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

The Hershey Company (NYSE:HSY) has been given a consensus rating of “Reduce” by the nineteen analysts that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $189.33.

Several research firms recently weighed in on HSY. Royal Bank of Canada cut their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Piper Sandler increased their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th.

Institutional Investors Weigh In On Hershey

Hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in Hershey by 11.6% during the third quarter. Daiwa Securities Group Inc. now owns 18,127 shares of the company’s stock valued at $3,476,000 after purchasing an additional 1,877 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Hershey by 1.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 41,366 shares of the company’s stock valued at $7,933,000 after buying an additional 709 shares in the last quarter. SevenBridge Financial Group LLC grew its stake in shares of Hershey by 4.2% during the 3rd quarter. SevenBridge Financial Group LLC now owns 41,141 shares of the company’s stock valued at $7,344,000 after acquiring an additional 1,644 shares during the period. Swedbank AB increased its holdings in Hershey by 3.1% in the 3rd quarter. Swedbank AB now owns 135,898 shares of the company’s stock worth $26,063,000 after acquiring an additional 4,124 shares in the last quarter. Finally, WESPAC Advisors LLC raised its stake in Hershey by 6.7% during the 3rd quarter. WESPAC Advisors LLC now owns 4,533 shares of the company’s stock worth $869,000 after acquiring an additional 285 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of HSY opened at $181.50 on Wednesday. Hershey has a fifty-two week low of $171.67 and a fifty-two week high of $211.92. The firm’s 50-day simple moving average is $188.88 and its two-hundred day simple moving average is $192.13. The stock has a market cap of $36.72 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.48 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, November 18th. 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.