Hershey (NYSE:HSY) Given New $191.00 Price Target at Deutsche Bank Aktiengesellschaft

Hershey (NYSE:HSY) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $192.00 to $191.00 in a research report sent to investors on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

HSY has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of Hershey from $205.00 to $195.00 and set an equal weight rating for the company in a report on Friday, June 21st. Barclays reduced their price target on shares of Hershey from $210.00 to $204.00 and set an equal weight rating on the stock in a research report on Tuesday, June 18th. Piper Sandler restated a neutral rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Citigroup increased their target price on shares of Hershey from $188.00 to $195.00 and gave the stock a neutral rating in a report on Friday. Finally, Bank of America cut their price objective on shares of Hershey from $210.00 to $200.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $204.50.

Hershey Stock Performance

NYSE HSY traded up $3.59 on Friday, hitting $199.61. 518,521 shares of the company’s stock were exchanged, compared to its average volume of 1,856,430. Hershey has a fifty-two week low of $178.82 and a fifty-two week high of $230.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 4.96 and a beta of 0.36. The firm’s 50-day moving average price is $189.83 and its two-hundred day moving average price is $192.77.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share 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 net margin of 16.76% and a return on equity of 45.36%. Hershey’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.01 EPS. On average, research analysts expect that Hershey will post 9.59 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, August 16th. Hershey’s payout ratio is currently 54.31%.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,500 shares of company stock valued at $867,450 over the last quarter. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several large investors have recently bought and sold shares of the stock. Capital Advisors Ltd. LLC grew its holdings in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Riverview Trust Co acquired a new position in Hershey in the first quarter worth $29,000. OFI Invest Asset Management bought a new position in Hershey in the 2nd quarter valued at $29,000. Highlander Capital Management LLC lifted its stake in shares of Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after purchasing an additional 94 shares during the period. Finally, Rakuten Securities Inc. bought a new position in shares of Hershey during the fourth quarter worth $32,000. 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.