Deutsche Bank Aktiengesellschaft Cuts Hershey (NYSE:HSY) Price Target to $148.00

Hershey (NYSE:HSY) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $184.00 to $148.00 in a report issued on Thursday morning, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other research firms have also recently weighed in on HSY. UBS Group lowered their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler lowered their target price on Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company cut their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $172.32.

Hershey Trading Down 0.8 %

Shares of HSY opened at $149.84 on Thursday. Hershey has a twelve month low of $148.74 and a twelve month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $30.32 billion, a P/E ratio of 17.26, a PEG ratio of 4.30 and a beta of 0.38. The firm’s 50-day moving average is $170.12 and its two-hundred day moving average is $183.73.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is 63.13%.

Hedge Funds Weigh In On Hershey

Large investors have recently added to or reduced their stakes in the business. Burns J W & Co. Inc. NY grew its holdings in Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after buying an additional 58 shares during the period. Park Avenue Securities LLC grew its holdings in Hershey by 1.1% in the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC increased its position in Hershey by 23.3% during the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares during the last quarter. Forum Financial Management LP raised its stake in Hershey by 1.6% during the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after purchasing an additional 64 shares during the period. Finally, Avestar Capital LLC boosted its holdings in shares of Hershey by 6.0% in the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after purchasing an additional 67 shares during the last quarter. 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.