The Hershey Company (NYSE:HSY) Given Consensus Recommendation of “Reduce” by Analysts

The Hershey Company (NYSE:HSY) has earned a consensus rating of “Reduce” from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation and sixteen have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $191.55.

Several equities research analysts have recently commented on HSY shares. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and reduced their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Stifel Nicolaus reduced their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday. Piper Sandler dropped their target price on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $184.00 to $163.00 in a research report on Thursday, September 26th.

Hershey Stock Performance

Hershey stock opened at $181.26 on Friday. Hershey has a fifty-two week low of $178.82 and a fifty-two week high of $211.92. The company has a market capitalization of $36.67 billion, a PE ratio of 20.14, a P/E/G ratio of 4.22 and a beta of 0.37. The company has a 50 day moving average price of $192.75 and a 200-day moving average price of $192.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $2.01 EPS. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. As a group, equities analysts forecast that Hershey will post 9.45 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.02%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several large investors have recently made changes to their positions in HSY. Vanguard Group Inc. increased its holdings in Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC boosted its position in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Hershey in the second quarter valued at approximately $82,123,000. Finally, Bryn Mawr Capital Management LLC increased its position in shares of Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares in the last quarter. 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.