Analysts Set Hershey Company (The) (NYSE:HSY) Target Price at $218.06

Shares of Hershey Company (The) (NYSE:HSY) have been given a consensus recommendation of “Hold” by the twenty-three analysts that are presently covering the stock, Marketbeat reports. Sixteen research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $218.0556.

HSY has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Hershey from $247.00 to $227.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. BTIG Research initiated coverage on Hershey in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Mizuho decreased their price objective on Hershey from $195.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $249.00 price objective on shares of Hershey in a research note on Wednesday, February 25th. Finally, Evercore raised Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 price objective on the stock in a research note on Wednesday, May 27th.

Hershey Stock Down 0.4%

HSY stock opened at $180.94 on Thursday. Hershey has a fifty-two week low of $160.07 and a fifty-two week high of $239.48. The business’s 50-day moving average is $190.87 and its two-hundred day moving average is $198.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 1.09 and a beta of 0.09.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. Hershey’s revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Hershey will post 8.45 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a dividend of $1.452 per share. The ex-dividend date was Friday, May 15th. This represents a $5.81 annualized dividend and a dividend yield of 3.2%. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Hershey

Several institutional investors have recently made changes to their positions in HSY. Norges Bank purchased a new stake in shares of Hershey during the fourth quarter worth about $272,506,000. Marshall Wace LLP grew its position in shares of Hershey by 546.6% during the fourth quarter. Marshall Wace LLP now owns 1,057,476 shares of the company’s stock worth $192,439,000 after purchasing an additional 893,940 shares in the last quarter. First Trust Advisors LP grew its position in shares of Hershey by 240.0% during the third quarter. First Trust Advisors LP now owns 1,262,671 shares of the company’s stock worth $236,183,000 after purchasing an additional 891,287 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Hershey by 150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company’s stock worth $232,731,000 after purchasing an additional 767,478 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Hershey by 4,478.5% during the fourth quarter. Pacer Advisors Inc. now owns 586,141 shares of the company’s stock worth $106,666,000 after purchasing an additional 573,339 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.