Hershey (NYSE:HSY) Stock Price Target Lowered at UBS Group

Hershey (NYSE:HSY) had its target price trimmed by UBS Group from $178.00 to $175.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

HSY has been the subject of several other research reports. TD Cowen downgraded Hershey from a “buy” rating to a “hold” rating and lowered their price objective for the company from $198.00 to $173.00 in a research note on Friday. Jefferies Financial Group reissued a “hold” rating and set a $178.00 target price (down from $190.00) on shares of Hershey in a report on Wednesday, October 14th. BNP Paribas Exane decreased their price target on shares of Hershey from $195.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft set a $173.00 price target on shares of Hershey in a report on Friday. Finally, Bank of America restated a “neutral” rating and issued a $170.00 price objective on shares of Hershey in a report on Friday. Seven investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average price target of $194.14.

Hershey Stock Up 0.1%

Shares of NYSE HSY opened at $165.85 on Friday. The company has a market cap of $33.32 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.45 and a beta of 0.08. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 0.92. Hershey has a 12 month low of $156.16 and a 12 month high of $239.48. The stock has a 50-day moving average price of $169.68 and a two-hundred day moving average price of $189.03.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 29th. The company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.11 by $0.53. Hershey had a net margin of 14.63% and a return on equity of 37.12%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Hershey will post 8.61 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a $1.4520 dividend. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 16th. Hershey’s payout ratio is currently 65.72%.

Institutional Trading of Hershey

Several hedge funds have recently modified their holdings of the stock. Delta Asset Management LLC TN increased its stake in Hershey by 17.1% in the second quarter. Delta Asset Management LLC TN now owns 410 shares of the company’s stock valued at $72,000 after purchasing an additional 60 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Hershey by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,316 shares of the company’s stock worth $481,000 after purchasing an additional 61 shares in the last quarter. Intrua Financial LLC boosted its position in shares of Hershey by 4.2% during the 3rd quarter. Intrua Financial LLC now owns 1,673 shares of the company’s stock worth $264,000 after purchasing an additional 67 shares in the last quarter. Eastern Bank grew its stake in shares of Hershey by 10.7% in the 3rd quarter. Eastern Bank now owns 702 shares of the company’s stock valued at $111,000 after buying an additional 68 shares during the period. Finally, Bogart Wealth LLC grew its stake in shares of Hershey by 4.1% in the 1st quarter. Bogart Wealth LLC now owns 1,889 shares of the company’s stock valued at $393,000 after buying an additional 75 shares during the period. Institutional investors own 57.96% of the company’s stock.

About Hershey

The Hershey Company (NYSE: HSY) is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.

Hershey’s portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey’s, Reese’s, Hershey’s Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot’s Pretzels.