Piper Sandler Lowers Hershey (NYSE:HSY) Price Target to $179.00

Hershey (NYSE:HSY) had its price target trimmed by Piper Sandler from $200.00 to $179.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. Wells Fargo & Company raised their price target on Hershey from $190.00 to $210.00 and gave the stock an equal weight rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their target price on shares of Hershey from $195.00 to $205.00 and gave the company a hold rating in a research note on Thursday, January 25th. Morgan Stanley downgraded shares of Hershey from an equal weight rating to an underweight rating and decreased their price target for the stock from $191.00 to $183.00 in a research note on Monday, February 12th. Barclays lifted their price objective on Hershey from $200.00 to $210.00 and gave the company an equal weight rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on Hershey from $185.00 to $193.00 and gave the stock a neutral rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $223.81.

Hershey Price Performance

Shares of Hershey stock opened at $182.53 on Monday. The firm has a market cap of $37.23 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34. The company’s fifty day simple moving average is $193.33 and its two-hundred day simple moving average is $191.29. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. Hershey has a 12-month low of $178.82 and a 12-month high of $276.88.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. Hershey’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $2.02 earnings per share. As a group, equities analysts expect that Hershey will post 9.6 EPS for the current year.

Hershey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio is currently 60.55%.

Insider Activity at Hershey

In related news, insider Charles R. Raup sold 2,065 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the transaction, the insider now directly owns 14,770 shares of the company’s stock, valued at approximately $2,833,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the sale, the insider now directly owns 14,770 shares in the company, valued at approximately $2,833,624.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Mccalman sold 453 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the transaction, the chief accounting officer now owns 1,862 shares in the company, valued at approximately $369,681.48. The disclosure for this sale can be found here. Insiders sold 5,518 shares of company stock valued at $1,066,414 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Hershey

Large investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. purchased a new position in shares of Hershey in the 3rd quarter worth $25,000. Costello Asset Management INC bought a new position in Hershey in the third quarter valued at about $25,000. Main Street Group LTD purchased a new position in Hershey in the fourth quarter worth about $25,000. Zions Bancorporation N.A. grew its stake in shares of Hershey by 121.3% during the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after purchasing an additional 74 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in shares of Hershey during the 4th quarter valued at about $26,000. Institutional investors own 57.96% of the company’s stock.

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.