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

The Hershey Company (NYSE:HSY) has received a consensus rating of “Reduce” from the twenty analysts that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $182.21.

Several equities research analysts recently commented on the stock. TD Cowen cut their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. 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. Finally, Bank of America reaffirmed a “neutral” rating and set a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares during the period. Geode Capital Management LLC lifted its position in Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after acquiring an additional 35,688 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Hershey by 3.2% in the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after purchasing an additional 29,507 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of HSY stock opened at $162.51 on Thursday. The company has a market capitalization of $32.88 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. Hershey has a 52 week low of $159.87 and a 52 week high of $211.92. 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 company’s 50 day moving average price is $174.83 and its two-hundred day moving average price is $185.77.

Hershey Dividend Announcement

The firm also recently announced 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 dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is presently 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.