Wells Fargo & Company Cuts Hershey (NYSE:HSY) Price Target to $140.00

Hershey (NYSE:HSY) had its price objective lowered by Wells Fargo & Company from $150.00 to $140.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

HSY has been the topic of several other research reports. Jefferies Financial Group lowered their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Mizuho dropped their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. UBS Group cut their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set 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 fourteen have given a hold rating to the company. According to MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Trading Down 0.8 %

Shares of NYSE:HSY opened at $152.82 on Friday. The business has a 50 day moving average of $171.86 and a two-hundred day moving average of $184.39. 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 has a 12-month low of $150.31 and a 12-month high of $211.92. The company has a market capitalization of $30.92 billion, a PE ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is 63.13%.

Institutional Trading of Hershey

Institutional investors have recently made changes to their positions in the company. Burns J W & Co. Inc. NY lifted its holdings in Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the last quarter. Brighton Jones LLC raised its position in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after buying an additional 62 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Hershey by 23.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after acquiring an additional 63 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in Hershey by 1.6% during the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock valued at $792,000 after buying an additional 64 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

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.