The Hershey Company (NYSE:HSY) Receives Average Recommendation of “Reduce” from Brokerages

The Hershey Company (NYSE:HSY) has been assigned a consensus rating of “Reduce” from the twenty brokerages that are currently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a sell recommendation and thirteen have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $170.05.

A number of research analysts have commented on HSY shares. TD Cowen cut their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a research note on Tuesday, December 10th. Mizuho cut their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, Jefferies Financial Group dropped their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently modified their holdings of HSY. Ashton Thomas Securities LLC acquired a new position in Hershey in the 3rd quarter valued at $25,000. Grove Bank & Trust grew its stake in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. ST Germain D J Co. Inc. increased its position in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. bought a new stake in Hershey in the 3rd quarter valued at about $46,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Hershey during the third quarter worth approximately $48,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Trading Down 1.9 %

Shares of HSY stock opened at $149.19 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a fifty day moving average of $167.44 and a 200-day moving average of $182.29. Hershey has a 52-week low of $147.60 and a 52-week high of $211.92. The stock has a market cap of $30.19 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 4.28 and a beta of 0.38.

Hershey Dividend Announcement

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

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.