Hershey (NYSE:HSY) Rating Increased to Neutral at Citigroup

Citigroup upgraded shares of Hershey (NYSE:HSY) from a sell rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $154.00 price target on the stock, down from their previous price target of $159.00.

A number of other brokerages have also issued reports on HSY. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. UBS Group reduced their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Bernstein Bank dropped their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group decreased their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.35.

Hershey Stock Up 1.7 %

NYSE:HSY opened at $154.98 on Friday. Hershey has a 1-year low of $140.13 and a 1-year high of $211.92. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 4.30 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The business’s fifty day moving average price is $164.81 and its 200 day moving average price is $180.78.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 43.24% and a net margin of 16.17%. On average, sell-side analysts forecast that Hershey will post 9.06 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is currently 63.13%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Hershey

Several institutional investors have recently modified their holdings of HSY. Salomon & Ludwin LLC lifted its position in Hershey by 23.3% in the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares during the period. Forum Financial Management LP raised its stake in shares of Hershey by 1.6% in the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock valued at $792,000 after buying an additional 64 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of 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 acquiring an additional 67 shares during the period. Wedmont Private Capital boosted its position in shares of Hershey by 5.7% during the 3rd quarter. Wedmont Private Capital now owns 1,372 shares of the company’s stock valued at $257,000 after acquiring an additional 74 shares in the last quarter. Finally, Massachusetts Wealth Management increased its stake in Hershey by 1.3% in the third quarter. Massachusetts Wealth Management now owns 6,007 shares of the company’s stock valued at $1,152,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds 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.