Mizuho Lowers Hershey (NYSE:HSY) Price Target to $170.00

Hershey (NYSE:HSY) had its price target reduced by Mizuho from $195.00 to $170.00 in a research note published on Monday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on HSY. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Jefferies Financial Group decreased their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler upped their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Barclays reduced their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $184.61.

Hershey Stock Up 0.9 %

HSY opened at $170.49 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $177.95 and its 200 day simple moving average is $187.09. Hershey has a 52 week low of $166.69 and a 52 week high of $211.92. The stock has a market cap of $34.50 billion, a PE ratio of 19.64, a P/E/G ratio of 4.24 and a beta of 0.37.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Trading of Hershey

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. Franklin Resources Inc. raised its stake in Hershey by 95.4% in the third quarter. Franklin Resources Inc. now owns 218,055 shares of the company’s stock worth $40,558,000 after buying an additional 106,450 shares in the last quarter. Tidal Investments LLC lifted its holdings in Hershey by 14.9% in the third quarter. Tidal Investments LLC now owns 8,360 shares of the company’s stock worth $1,603,000 after buying an additional 1,083 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Hershey by 2.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 116,432 shares of the company’s stock worth $22,329,000 after buying an additional 2,391 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its position in Hershey by 2.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 5,697 shares of the company’s stock valued at $1,093,000 after acquiring an additional 153 shares in the last quarter. 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.