Barclays Cuts Hershey (NYSE:HSY) Price Target to $202.00

Hershey (NYSE:HSY) had its price objective trimmed by Barclays from $204.00 to $202.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They issued a sell rating and a $185.00 price objective for the company. Citigroup cut Hershey from a neutral rating to a sell rating and reduced their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their price objective on Hershey from $183.00 to $188.00 and gave the company a neutral rating in a report on Friday, August 2nd. Wells Fargo & Company reduced their target price on Hershey from $205.00 to $195.00 and set an equal weight rating for the company in a report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $191.00 to $199.00 and gave the company a hold rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $198.63.

Hershey Stock Performance

Shares of NYSE HSY opened at $193.32 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. Hershey has a one year low of $178.82 and a one year high of $211.92. The business’s 50-day moving average price is $196.37 and its two-hundred day moving average price is $194.04. The company has a market capitalization of $39.09 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. Analysts anticipate that Hershey will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.83%. Hershey’s dividend payout ratio is 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 stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake 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 valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. Confluence Investment Management LLC boosted its stake in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hershey in the second quarter valued at $82,123,000. Bryn Mawr Capital Management LLC raised its stake in Hershey by 3,404.3% during the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after acquiring an additional 249,129 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Hershey by 1,194.0% during 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 during the period. Institutional investors 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.