Hershey (NYSE:HSY) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

Hershey (NYSE:HSY) had its price target trimmed by Wells Fargo & Company from $160.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

HSY has been the subject of several other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $183.00 price target on shares of Hershey in a research note on Tuesday, December 10th. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target on the stock. Bank of America reiterated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and decreased their target price for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $184.06.

Hershey Price Performance

Shares of Hershey stock opened at $165.88 on Tuesday. The company has a market capitalization of $33.57 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.38 and a beta of 0.38. 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 stock’s 50-day simple moving average is $175.13 and its 200-day simple moving average is $185.94. Hershey has a 52 week low of $165.38 and a 52 week high of $211.92.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.30%. Hershey’s dividend payout ratio is currently 63.13%.

Hedge Funds Weigh In On Hershey

A number of large investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Hershey by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after purchasing an additional 35,688 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Finally, Stifel Financial Corp grew its position in Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after buying an additional 29,507 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.