Investment Analysts’ Weekly Ratings Changes for Hershey (HSY)

Hershey (NYSE: HSY) recently received a number of ratings updates from brokerages and research firms:

  • 2/12/2024 – Hershey was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $183.00 price target on the stock, down previously from $191.00.
  • 2/12/2024 – Hershey had its price target raised by analysts at Barclays PLC from $200.00 to $210.00. They now have an “equal weight” rating on the stock.
  • 2/9/2024 – Hershey had its price target raised by analysts at JPMorgan Chase & Co. from $185.00 to $193.00. They now have a “neutral” rating on the stock.
  • 2/9/2024 – Hershey had its price target raised by analysts at Wells Fargo & Company from $190.00 to $210.00. They now have an “equal weight” rating on the stock.
  • 2/7/2024 – Hershey had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $213.00 price target on the stock.
  • 2/1/2024 – Hershey is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $213.00 price target on the stock.
  • 1/29/2024 – Hershey was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $235.00 price target on the stock.
  • 1/25/2024 – Hershey had its price target raised by analysts at Stifel Nicolaus from $195.00 to $205.00. They now have a “hold” rating on the stock.
  • 1/16/2024 – Hershey had its price target lowered by analysts at Barclays PLC from $212.00 to $200.00. They now have an “equal weight” rating on the stock.
  • 12/15/2023 – Hershey was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $200.00 price target on the stock, down previously from $250.00.

Hershey Trading Down 0.9 %

Shares of HSY stock opened at $193.74 on Tuesday. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $276.88. The company has a market capitalization of $39.62 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.63 and a beta of 0.36. The firm has a 50-day moving average price of $189.47 and a 200 day moving average price of $198.76. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSYGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the firm posted $2.02 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Research analysts forecast that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th will be paid a $1.37 dividend. The ex-dividend date is Friday, February 16th. This is an increase from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.83%. Hershey’s payout ratio is currently 52.71%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the transaction, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at $5,701,704.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the transaction, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at $5,701,704.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total transaction of $396,170.25. Following the sale, the insider now owns 14,770 shares of the company’s stock, valued at approximately $2,833,624.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,018 shares of company stock valued at $1,331,734. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Hershey

Several institutional investors have recently modified their holdings of the business. Clear Rock Advisors LLC acquired a new stake in shares of Hershey during the 4th quarter worth approximately $1,398,000. Madison Asset Management LLC grew its holdings in Hershey by 2,665.4% during the fourth quarter. Madison Asset Management LLC now owns 29,451 shares of the company’s stock valued at $5,491,000 after purchasing an additional 28,386 shares during the period. Bank of Nova Scotia grew its holdings in Hershey by 22.9% during the fourth quarter. Bank of Nova Scotia now owns 93,967 shares of the company’s stock valued at $17,519,000 after purchasing an additional 17,529 shares during the period. Scotia Capital Inc. grew its holdings in Hershey by 40.7% during the fourth quarter. Scotia Capital Inc. now owns 10,336 shares of the company’s stock valued at $1,927,000 after purchasing an additional 2,988 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Hershey by 113.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,800 shares of the company’s stock valued at $522,000 after purchasing an additional 1,488 shares during the period. Institutional investors and hedge funds own 56.47% of the company’s stock.

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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

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