The Hershey Company (NYSE:HSY) Receives Consensus Rating of “Reduce” from Brokerages

Shares of The Hershey Company (NYSE:HSY) have earned an average rating of “Reduce” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $189.33.

Several equities research analysts have recently issued reports on HSY shares. Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Barclays cut their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company.

Hershey Trading Down 4.5 %

Hershey stock opened at $170.92 on Wednesday. The stock has a market cap of $34.58 billion, a P/E ratio of 19.69, a PEG ratio of 4.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. Hershey has a 1 year low of $170.58 and a 1 year high of $211.92. The firm’s 50 day moving average price is $187.31 and its 200-day moving average price is $191.78.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Trading of Hershey

Large investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its stake in shares of Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after purchasing an additional 29,246 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Hershey by 179.4% in the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,468 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Hershey by 2.2% in the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after acquiring an additional 1,168 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Hershey by 20.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after acquiring an additional 2,635 shares in the last quarter. Finally, JLB & Associates Inc. raised its holdings in shares of Hershey by 53.5% in the third quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock valued at $12,414,000 after acquiring an additional 22,562 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.