Deutsche Bank Aktiengesellschaft Cuts Hershey (NYSE:HSY) Price Target to $148.00

Hershey (NYSE:HSY) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $184.00 to $148.00 in a report released on Thursday morning, MarketBeat.com reports. The firm currently has a hold rating on the stock.

HSY has been the topic of several other research reports. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Mizuho reduced their price objective on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Redburn Atlantic assumed coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Finally, Sanford C. Bernstein downgraded 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 report on Monday, October 7th. Six analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $171.79.

Hershey Stock Up 0.4 %

NYSE HSY opened at $150.54 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market cap of $30.46 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. Hershey has a one year low of $147.60 and a one year high of $211.92. The stock’s 50 day simple moving average is $169.13 and its 200 day simple moving average is $183.26.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.64%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% during 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. State Street Corp boosted its position in Hershey by 5.8% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after buying an additional 139,831 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after buying an additional 109,336 shares during the period. Hedge funds and other 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.