Mizuho Has Lowered Expectations for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price objective reduced by Mizuho from $170.00 to $140.00 in a research report report published on Wednesday.

HSY has been the subject of a number of other research reports. UBS Group cut their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bernstein Bank cut their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday. Citigroup lowered their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Six research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $166.35.

Hershey Trading Up 1.7 %

NYSE:HSY opened at $154.98 on Wednesday. Hershey has a 12 month low of $140.13 and a 12 month high of $211.92. The company has a 50 day simple moving average of $164.81 and a two-hundred day simple moving average of $180.78. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The company has a market cap of $31.36 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 4.30 and a beta of 0.38.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 16.17% and a return on equity of 43.24%. Research analysts forecast that Hershey will post 9.06 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio is 63.13%.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Hershey

Hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in Hershey during the 3rd quarter valued at about $25,000. Grove Bank & Trust grew its holdings in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. Vision Financial Markets LLC bought a new position in Hershey during the 4th quarter valued at about $29,000. ST Germain D J Co. Inc. grew its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Hershey during the 3rd quarter valued at about $46,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

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.