Jefferies Financial Group Cuts Hershey (NYSE:HSY) Price Target to $134.00

Hershey (NYSE:HSY) had its price target trimmed by Jefferies Financial Group from $150.00 to $134.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

A number of other brokerages also recently commented on HSY. TD Cowen reduced their price target on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays reduced their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler reduced their price target on Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, Mizuho reduced their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $175.00.

Hershey Price Performance

Shares of NYSE HSY opened at $153.53 on Tuesday. The company has a market capitalization of $31.07 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 4.20 and a beta of 0.38. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. 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 business has a 50-day moving average of $171.34 and a 200-day moving average of $184.17.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is 63.13%.

Institutional Trading of Hershey

Several large investors have recently added to or reduced their stakes in HSY. AE Wealth Management LLC increased its position in Hershey by 5.6% in the 2nd quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock valued at $695,000 after acquiring an additional 200 shares during the period. Sei Investments Co. increased its position in Hershey by 48.3% in the 2nd quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock valued at $14,864,000 after acquiring an additional 26,318 shares during the period. ProShare Advisors LLC increased its position in Hershey by 11.2% in the 2nd quarter. ProShare Advisors LLC now owns 27,204 shares of the company’s stock valued at $5,001,000 after acquiring an additional 2,742 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Hershey in the 2nd quarter valued at approximately $371,000. Finally, Gabelli Funds LLC bought a new position in Hershey during the 2nd quarter valued at $460,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.