Hershey (NYSE:HSY) Receives New Coverage from Analysts at Redburn Atlantic

Redburn Atlantic initiated coverage on shares of Hershey (NYSE:HSY) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued a sell rating and a $165.00 target price on the stock.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group lowered shares of Hershey from a “hold” rating to an “underperform” rating and cut their price target for the stock from $184.00 to $163.00 in a report on Thursday, September 26th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Bank of America decreased their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $192.80.

Hershey Stock Up 0.1 %

Shares of HSY stock opened at $182.20 on Tuesday. Hershey has a twelve month low of $178.82 and a twelve month high of $211.92. The stock has a market cap of $36.85 billion, a P/E ratio of 18.06, a P/E/G ratio of 5.44 and a beta of 0.37. The stock has a 50 day moving average of $193.04 and a 200 day moving average of $192.88. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 earnings per share. As a group, sell-side analysts expect that Hershey will post 9.47 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s payout ratio is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Hershey

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Hershey in the second quarter valued at $82,123,000. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

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.