Hershey (NYSE:HSY) Cut to Underweight at Piper Sandler

Piper Sandler lowered shares of Hershey (NYSE:HSY) from a neutral rating to an underweight rating in a report released on Friday, Marketbeat reports. They currently have $120.00 price objective on the stock, down from their prior price objective of $153.00.

Other equities analysts have also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of Hershey from $180.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Finally, Mizuho dropped their price objective on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Seven investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $170.05.

Hershey Price Performance

Shares of Hershey stock opened at $149.19 on Friday. The firm has a fifty day simple moving average of $166.93 and a 200-day simple moving average of $181.95. 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 1-year low of $147.60 and a 1-year high of $211.92. The stock has a market capitalization of $30.19 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 4.28 and a beta of 0.38.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.67%. Hershey’s dividend payout ratio is 63.13%.

Institutional Trading of Hershey

A number of hedge funds have recently modified their holdings of HSY. Burns J W & Co. Inc. NY raised its holdings in Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after buying an additional 58 shares during the period. Park Avenue Securities LLC raised its holdings in Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after buying an additional 62 shares during the period. Salomon & Ludwin LLC raised its holdings in Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after buying an additional 63 shares during the period. Forum Financial Management LP raised its holdings in Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares during the period. Finally, Avestar Capital LLC raised its holdings in Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after buying an additional 67 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.