TD Cowen Cuts Hershey (NYSE:HSY) Price Target to $172.00

Hershey (NYSE:HSY) had its target price lowered by TD Cowen from $190.00 to $172.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Several other research analysts have also recently issued reports on HSY. Stifel Nicolaus cut their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Jefferies Financial Group cut their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. Finally, Redburn Atlantic started coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $182.21.

Hershey Stock Down 2.4 %

Shares of Hershey stock opened at $158.40 on Wednesday. Hershey has a one year low of $156.10 and a one year high of $211.92. The company has a market cap of $32.05 billion, a P/E ratio of 18.25, a PEG ratio of 4.38 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a fifty day moving average of $174.11 and a two-hundred day moving average of $185.41.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is 63.13%.

Institutional Trading of Hershey

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in Hershey in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. raised its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. ST Germain D J Co. Inc. raised its position in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after buying an additional 100 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Hershey during the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey during the third quarter worth approximately $48,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

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.