Hershey (NYSE:HSY) Given New $168.00 Price Target at Piper Sandler

Hershey (NYSE:HSY) had its target price lifted by Piper Sandler from $165.00 to $168.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

HSY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Jefferies Financial Group lowered their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Barclays reduced their price objective on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Royal Bank of Canada lowered their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.56.

Hershey Price Performance

Hershey stock traded up $2.82 during mid-day trading on Friday, hitting $175.67. The stock had a trading volume of 3,115,302 shares, compared to its average volume of 1,375,510. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $189.17 and its 200 day moving average is $192.13. The firm has a market capitalization of $35.54 billion, a P/E ratio of 19.52, a P/E/G ratio of 4.09 and a beta of 0.38. Hershey has a one year low of $171.67 and a one year high of $211.92.

Hershey (NYSE:HSY) last released its earnings results on Thursday, November 7th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.16). The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. On average, sell-side analysts forecast that Hershey will post 9.39 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is 60.89%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. grew its position in shares of Hershey by 8.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 6,691 shares of the company’s stock worth $1,283,000 after buying an additional 533 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Hershey by 73.6% during the third quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock worth $2,159,000 after purchasing an additional 4,772 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Hershey by 1.1% during the 3rd quarter. Moran Wealth Management LLC now owns 88,464 shares of the company’s stock valued at $16,966,000 after purchasing an additional 979 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in Hershey during the 3rd quarter worth $1,852,000. Finally, Advisors Asset Management Inc. increased its position in Hershey by 18.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock valued at $5,386,000 after buying an additional 4,464 shares in the last quarter. Hedge funds and other institutional investors 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.