Hershey (NYSE:HSY) Price Target Cut to $172.00 by Analysts at TD Cowen

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

Several other research firms have also recently commented on HSY. UBS Group cut Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the company from $226.00 to $209.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research report on Wednesday. Bank of America reaffirmed a “neutral” rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on Hershey from $160.00 to $150.00 and set an “underweight” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.21.

Hershey Trading Down 1.8 %

NYSE:HSY opened at $162.51 on Wednesday. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. Hershey has a one year low of $159.87 and a one year high of $211.92. 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 business’s 50-day simple moving average is $174.83 and its 200 day simple moving average is $185.77.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.37%. Hershey’s dividend payout ratio is presently 63.13%.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Hershey during the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. raised its stake in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Hershey in the third quarter worth about $46,000. Future Financial Wealth Managment LLC bought a new position in Hershey in the 3rd quarter valued at about $48,000. Finally, Quarry LP increased its stake in Hershey by 123.9% during the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after buying an additional 166 shares during the period. 57.96% of the stock is currently 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.