Citigroup Upgrades Hershey (NYSE:HSY) to “Neutral”

Citigroup upgraded shares of Hershey (NYSE:HSY) from a sell rating to a neutral rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $154.00 target price on the stock, down from their prior target price of $159.00.

Other analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Stifel Nicolaus decreased their target price on Hershey from $180.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average price target of $166.35.

Hershey Stock Performance

Shares of HSY opened at $154.98 on Friday. The stock has a 50-day simple moving average of $164.38 and a 200-day simple moving average of $180.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 0.96. Hershey has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market capitalization of $31.36 billion, a PE ratio of 14.22, a PEG ratio of 4.89 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, analysts predict that Hershey will post 6.77 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

A number of institutional investors and hedge funds have recently made changes to their positions in HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey in the third quarter valued at about $1,337,000. Principal Financial Group Inc. increased its stake in Hershey by 66.7% in the 3rd 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 in the last quarter. Woodstock Corp raised its holdings in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after purchasing an additional 1,780 shares during the last quarter. HighTower Advisors LLC boosted its position in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after purchasing an additional 45,936 shares in the last quarter. Finally, Pensionfund Sabic grew its holdings in Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after purchasing an additional 3,000 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

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.