Wells Fargo & Company Issues Positive Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price target upped by Wells Fargo & Company from $125.00 to $132.00 in a research note published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group cut their target price on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Barclays cut their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered their price target on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average price target of $163.75.

Hershey Trading Down 0.9 %

Shares of HSY opened at $170.32 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. Hershey has a 12-month low of $140.13 and a 12-month high of $211.92. The firm has a market capitalization of $34.47 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The stock’s fifty day simple moving average is $162.15 and its 200-day simple moving average is $175.96.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, research analysts predict that Hershey will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. Hershey’s payout ratio is presently 50.28%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Hershey

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey in the third quarter worth approximately $25,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Hershey in the third quarter worth approximately $251,000. Ashton Thomas Private Wealth LLC raised its stake in shares of Hershey by 10.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,260 shares of the company’s stock worth $434,000 after purchasing an additional 206 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Hershey by 62.4% during the third quarter. Victory Capital Management Inc. now owns 160,807 shares of the company’s stock valued at $30,840,000 after acquiring an additional 61,765 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Hershey by 5.9% during the third quarter. KBC Group NV now owns 54,701 shares of the company’s stock valued at $10,490,000 after acquiring an additional 3,071 shares during the last quarter. 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.