Hershey (NYSE:HSY) Price Target Lowered to $159.00 at Citigroup

Hershey (NYSE:HSY) had its price objective cut by Citigroup from $165.00 to $159.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a sell rating on the stock.

Several other research firms have also recently issued reports on HSY. Wells Fargo & Company cut their price objective on Hershey from $160.00 to $150.00 and set an “underweight” rating for the company in a research report on Tuesday. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. Finally, Jefferies Financial Group lowered their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.21.

Hershey Price Performance

Shares of HSY opened at $158.40 on Wednesday. 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 stock’s 50 day moving average is $174.11 and its two-hundred day moving average is $185.41. Hershey has a twelve month low of $156.10 and a twelve month high of $211.92. The firm has a market capitalization of $32.05 billion, a PE ratio of 18.25, a P/E/G ratio of 4.38 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.46%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Investors Weigh In On Hershey

Hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Hershey in the third quarter valued at $25,000. GHP Investment Advisors Inc. increased its holdings in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. ST Germain D J Co. Inc. raised its position in shares of Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the period. Peterson Financial Group Inc. acquired a new stake in Hershey during the third quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the 3rd quarter worth about $48,000. 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.