Hershey (NYSE:HSY) Price Target Cut to $170.00 by Analysts at Mizuho

Hershey (NYSE:HSY) had its price target decreased by Mizuho from $195.00 to $170.00 in a research report sent to investors on Monday morning, MarketBeat reports. Mizuho currently has a neutral rating on the stock.

Several other brokerages have also issued reports on HSY. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Wells Fargo & Company lowered Hershey from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $175.00 to $160.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $184.61.

Hershey Price Performance

Shares of NYSE HSY opened at $169.00 on Monday. The stock has a market capitalization of $34.20 billion, a PE ratio of 19.47, a P/E/G ratio of 4.24 and a beta of 0.37. The business has a fifty day moving average price of $178.57 and a two-hundred day moving average price of $187.47. Hershey has a fifty-two week low of $166.69 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Trading of Hershey

A number of hedge funds have recently bought and sold shares of HSY. Lantz Financial LLC purchased a new stake in Hershey in the second quarter worth $1,841,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Hershey by 11.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 89,691 shares of the company’s stock worth $16,488,000 after acquiring an additional 8,899 shares in the last quarter. Valley Brook Capital Group Inc. boosted its holdings in shares of Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after acquiring an additional 61 shares during the period. HB Wealth Management LLC grew its position in shares of Hershey by 37.0% in the second quarter. HB Wealth Management LLC now owns 2,554 shares of the company’s stock valued at $470,000 after purchasing an additional 690 shares in the last quarter. Finally, Financial Advocates Investment Management raised its stake in shares of Hershey by 89.4% during the 2nd quarter. Financial Advocates Investment Management now owns 1,979 shares of the company’s stock valued at $364,000 after purchasing an additional 934 shares during the period. 57.96% of the stock is currently 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.