Hershey (NYSE:HSY) PT Lowered to $180.00 at JPMorgan Chase & Co.

Hershey (NYSE:HSY) had its price target decreased by JPMorgan Chase & Co. from $188.00 to $180.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company decreased their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Argus cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Barclays decreased their price target 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. Finally, Bank of America reduced their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $195.00.

Hershey Stock Performance

Shares of NYSE HSY opened at $184.81 on Monday. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 5.44 and a beta of 0.37. 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 has a 1-year low of $178.82 and a 1-year high of $211.92. The stock’s 50-day moving average is $194.68 and its 200 day moving average is $193.33.

Hershey (NYSE:HSY) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. On average, sell-side analysts anticipate that Hershey will post 9.47 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’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 sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Mccalman sold 538 shares of the business’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 owns 3,238 shares of the company’s stock, valued at $644,912.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LPL Financial LLC raised its stake in shares of Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC increased its position in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,468 shares during the last quarter. Oak Harvest Investment Services purchased a new stake in Hershey during the first quarter valued at $5,383,000. Signet Financial Management LLC increased its position in Hershey by 59.9% during the first quarter. Signet Financial Management LLC now owns 12,960 shares of the company’s stock valued at $2,521,000 after acquiring an additional 4,854 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Hershey by 119.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock valued at $19,633,000 after acquiring an additional 50,014 shares during 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.