Hershey (NYSE:HSY) Cut to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Hershey (NYSE:HSY) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. BNP Paribas currently has $208.00 target price on the stock.

A number of other research analysts have also weighed in on HSY. Piper Sandler lowered Hershey from an overweight rating to a neutral rating and decreased their price objective for the company from $240.00 to $200.00 in a report on Wednesday, November 29th. Citigroup began coverage on Hershey in a report on Thursday, February 1st. They issued a neutral rating and a $213.00 price objective on the stock. DA Davidson initiated coverage on Hershey in a report on Friday, December 8th. They issued a neutral rating and a $205.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Hershey from $185.00 to $193.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price target on Hershey from $190.00 to $210.00 and gave the stock an equal weight rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $225.48.

Hershey Trading Up 0.4 %

Shares of NYSE:HSY opened at $194.54 on Tuesday. Hershey has a 1 year low of $178.82 and a 1 year high of $276.88. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The business’s 50 day moving average price is $193.26 and its 200-day moving average price is $192.80.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the firm posted $2.02 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Hershey will post 9.59 earnings per share for the current fiscal year.

Hershey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $1.37 dividend. This is an increase from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, February 16th. Hershey’s payout ratio is currently 60.55%.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the transaction, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at approximately $369,681.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the transaction, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at approximately $369,681.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $188.97, for a total value of $283,455.00. Following the completion of the transaction, the chief financial officer now directly owns 29,816 shares of the company’s stock, valued at $5,634,329.52. The disclosure for this sale can be found here. Insiders sold a total of 5,518 shares of company stock valued at $1,066,414 in the last three months. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in shares of Hershey during the third quarter worth about $25,000. Costello Asset Management INC acquired a new position in shares of Hershey during the third quarter worth about $25,000. Main Street Group LTD purchased a new stake in Hershey during the fourth quarter worth approximately $25,000. Zions Bancorporation N.A. lifted its stake in Hershey by 121.3% during the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after purchasing an additional 74 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Hershey during the fourth quarter worth approximately $26,000. 57.96% of the stock is 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.