Citigroup Cuts Hershey (NYSE:HSY) Price Target to $159.00

Hershey (NYSE:HSY) had its price objective decreased by Citigroup from $165.00 to $159.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a sell rating on the stock.

Several other equities research analysts have also commented on the stock. Bank of America reiterated a “neutral” rating and set a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Royal Bank of Canada restated a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research note on Tuesday, December 10th. Stifel Nicolaus reduced their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Finally, Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their target price for the stock 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 fourteen have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.21.

Hershey Stock Performance

Shares of Hershey stock opened at $162.51 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 52 week low of $159.87 and a 52 week high of $211.92. The firm’s 50 day moving average is $174.83 and its two-hundred day moving average is $185.77. The firm has a market capitalization of $32.88 billion, a P/E ratio of 18.72, a P/E/G ratio of 4.38 and a beta of 0.38.

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. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is 63.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HSY. International Assets Investment Management LLC grew its stake in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Hershey during the second quarter worth about $82,123,000. Principal Financial Group Inc. grew its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the period. State Street Corp increased 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 buying an additional 386,670 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Hershey by 1,194.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after acquiring an additional 230,077 shares during the period. 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.