Hershey (NYSE:HSY) Upgraded at Citigroup

Citigroup upgraded shares of Hershey (NYSE:HSY) from a sell rating to a neutral rating in a research note published on Friday morning, MarketBeat reports. They currently have $154.00 price objective on the stock, down from their prior price objective of $159.00.

HSY has been the topic of a number of other research reports. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Mizuho cut their price target on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Barclays decreased their price objective on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Redburn Atlantic assumed coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Six investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $166.35.

Hershey Stock Performance

Shares of HSY stock opened at $154.98 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.54. The business has a fifty day moving average of $164.38 and a 200 day moving average of $180.46. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. Hershey has a 1 year low of $140.13 and a 1 year high of $211.92.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, research analysts expect that Hershey will post 6.77 earnings per share for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.54%. Hershey’s payout ratio is 50.28%.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hershey

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in Hershey by 34.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,328 shares of the company’s stock valued at $902,000 after purchasing an additional 1,370 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Hershey by 3.2% in the 4th quarter. Moors & Cabot Inc. now owns 9,301 shares of the company’s stock valued at $1,575,000 after buying an additional 286 shares during the period. Markel Group Inc. lifted its stake in Hershey by 25.0% during the 4th quarter. Markel Group Inc. now owns 45,000 shares of the company’s stock worth $7,621,000 after acquiring an additional 9,000 shares in the last quarter. Global View Capital Management LLC purchased a new position in Hershey during the 4th quarter valued at about $253,000. Finally, Citizens Financial Group Inc. RI grew its position in Hershey by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 9,748 shares of the company’s stock valued at $1,651,000 after acquiring an additional 411 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.