Wells Fargo & Company Has Lowered Expectations for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its target price trimmed by Wells Fargo & Company from $160.00 to $150.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research analysts also recently weighed in on HSY. Barclays cut their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Jefferies Financial Group reduced their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic assumed coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Mizuho reduced their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Finally, UBS Group cut Hershey from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Six equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $184.06.

Hershey Stock Performance

Hershey stock opened at $165.88 on Tuesday. 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 fifty-two week low of $165.38 and a fifty-two week high of $211.92. The stock has a fifty day moving average of $175.13 and a two-hundred day moving average of $185.94. The company has a market capitalization of $33.57 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.38 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Hedge Funds Weigh In On Hershey

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in Hershey in the 4th quarter valued at $200,000. Insight Wealth Strategies LLC boosted its position in shares of Hershey by 18.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 24,545 shares of the company’s stock worth $4,157,000 after buying an additional 3,841 shares during the period. Pensionfund Sabic boosted its position in shares of Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after buying an additional 3,000 shares during the period. GAMMA Investing LLC grew its stake in shares of Hershey by 35.4% in the fourth quarter. GAMMA Investing LLC now owns 5,489 shares of the company’s stock valued at $930,000 after buying an additional 1,435 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares during the period. Institutional investors and hedge funds 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.