Piper Sandler Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price objective trimmed by Piper Sandler from $168.00 to $153.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group dropped their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Bank of America reissued a “neutral” rating and set a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and cut their target price for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average price target of $177.47.

Hershey Stock Up 1.6 %

NYSE HSY opened at $154.13 on Thursday. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 4.31 and a beta of 0.38. The stock’s 50 day moving average is $172.69 and its two-hundred day moving average is $184.81. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.56%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Trading of Hershey

A number of institutional investors have recently bought and sold shares of HSY. International Assets Investment Management LLC lifted its stake in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Hershey in the second quarter valued at about $82,123,000. Principal Financial Group Inc. boosted its holdings in 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 buying an additional 389,404 shares during the last quarter. State Street Corp grew its position 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 period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 last quarter. 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.