JPMorgan Chase & Co. Lowers Hershey (NYSE:HSY) Price Target to $180.00

Hershey (NYSE:HSY) had its price target trimmed by JPMorgan Chase & Co. from $188.00 to $180.00 in a research note published on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on HSY. Royal Bank of Canada reduced their price target on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Barclays dropped their price objective on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research note on Friday, June 21st. Four investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $195.00.

Hershey Stock Performance

Shares of HSY opened at $184.81 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $194.68 and a two-hundred day simple moving average of $193.33. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 5.44 and a beta of 0.37. Hershey has a 52 week low of $178.82 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 EPS. On average, analysts expect that Hershey will post 9.47 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s payout ratio is 54.31%.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Hershey

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its holdings in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the period. Riverview Trust Co purchased a new position in Hershey during the 1st quarter worth $29,000. GHP Investment Advisors Inc. increased its holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter worth $29,000. Finally, Crewe Advisors LLC purchased a new position in Hershey during the 1st quarter worth $35,000. 57.96% of the stock is currently 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.