Barclays Cuts Hershey (NYSE:HSY) Price Target to $160.00

Hershey (NYSE:HSY) had its price target trimmed by Barclays from $170.00 to $160.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts have also issued reports on the company. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and cut their target price for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut their target price on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $164.15.

Hershey Stock Down 0.1 %

HSY stock opened at $158.13 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $163.49 and its 200 day moving average is $179.86. The stock has a market cap of $32.00 billion, a price-to-earnings ratio of 14.51, 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 posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts predict that Hershey will post 6.77 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Hershey

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HSY. Atomi Financial Group Inc. purchased a new stake in Hershey in the third quarter worth $235,000. Wedmont Private Capital raised its holdings in Hershey by 5.7% in the third quarter. Wedmont Private Capital now owns 1,372 shares of the company’s stock worth $257,000 after purchasing an additional 74 shares in the last quarter. Carnegie Investment Counsel raised its holdings in Hershey by 60.8% in the third quarter. Carnegie Investment Counsel now owns 20,730 shares of the company’s stock worth $3,976,000 after purchasing an additional 7,835 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Hershey by 24.4% in the third quarter. Exchange Traded Concepts LLC now owns 9,836 shares of the company’s stock worth $1,886,000 after purchasing an additional 1,927 shares in the last quarter. Finally, CHICAGO TRUST Co NA bought a new position in Hershey in the third quarter worth $384,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.