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

Shares of The Hershey Company (NYSE:HSY) have been assigned an average rating of “Reduce” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $184.61.

Several equities research analysts recently weighed in on the stock. Mizuho dropped their price objective on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group lowered their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Finally, Barclays cut their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th.

Institutional Trading of Hershey

A number of large investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey in the 3rd quarter worth about $1,337,000. Principal Financial Group Inc. raised its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares in the last quarter. HighTower Advisors LLC lifted its stake in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after acquiring an additional 45,936 shares during the last quarter. LPL Financial LLC boosted its holdings in Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in shares of Hershey by 53.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 44,339 shares of the company’s stock worth $8,503,000 after acquiring an additional 15,497 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Up 0.4 %

Shares of NYSE:HSY opened at $169.35 on Thursday. The company’s fifty day moving average is $176.25 and its two-hundred day moving average is $186.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a 1-year low of $166.69 and a 1-year high of $211.92. The stock has a market capitalization of $34.27 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 4.38 and a beta of 0.37.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date 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%.

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.