Hershey’s (HSY) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Hershey (NYSE:HSY) in a research note issued to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $178.00 price objective on the stock.

A number of other research analysts also recently issued reports on the company. Barclays cut their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. UBS Group decreased their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, Mizuho reduced their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Seven equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $169.79.

Hershey Price Performance

Shares of HSY opened at $147.67 on Monday. The stock has a market capitalization of $29.88 billion, a PE ratio of 17.01, a PEG ratio of 4.30 and a beta of 0.38. The company has a 50 day moving average price of $166.93 and a 200-day moving average price of $181.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a fifty-two week low of $146.48 and a fifty-two week high of $211.92.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.71%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Investors Weigh In On Hershey

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares during the period. Geode Capital Management LLC boosted its position in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after purchasing an additional 35,688 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after purchasing an additional 29,507 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.