Hershey (NYSE:HSY) Price Target Lowered to $172.00 at TD Cowen

Hershey (NYSE:HSY) had its price objective decreased by TD Cowen from $190.00 to $172.00 in a research note released on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

HSY has been the subject of a number of other research reports. Stifel Nicolaus reduced their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group dropped their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. UBS Group cut Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $182.21.

Hershey Price Performance

Shares of NYSE HSY opened at $162.51 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a one year low of $159.87 and a one year high of $211.92. The firm has a market capitalization of $32.88 billion, a P/E ratio of 18.72, a PEG ratio of 4.38 and a beta of 0.38. The company’s fifty day moving average is $174.83 and its two-hundred day moving average is $185.77.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.37%. Hershey’s dividend payout ratio is currently 63.13%.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in Hershey by 30,461.7% in the third 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 purchased a new stake in shares of Hershey during the 2nd quarter valued at about $82,123,000. Principal Financial Group Inc. lifted its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares in the last quarter. State Street Corp boosted its holdings in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after acquiring an additional 230,077 shares in 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.