Hershey (NYSE:HSY) Given New $177.00 Price Target at Morgan Stanley

Hershey (NYSE:HSY) had its target price lowered by Morgan Stanley from $183.00 to $177.00 in a research note issued to investors on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on HSY. TD Cowen lowered their price target on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price target on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, February 7th. UBS Group reduced their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price target on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Finally, DA Davidson reduced their price objective on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.35.

Hershey Stock Performance

NYSE HSY opened at $166.41 on Thursday. The company has a fifty day moving average of $168.78 and a two-hundred day moving average of $170.42. The company has a market capitalization of $33.68 billion, a PE ratio of 15.27, a P/E/G ratio of 5.90 and a beta of 0.28. Hershey has a 1 year low of $140.13 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, analysts expect that Hershey will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hershey

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. Woodstock Corp boosted its stake in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,780 shares during the period. Elevate Capital Advisors LLC purchased a new position in shares of Hershey in the fourth quarter valued at $1,939,000. Ethos Financial Group LLC grew its holdings in Hershey by 59.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after purchasing an additional 1,483 shares in the last quarter. Finally, Pensionfund Sabic increased its stake in Hershey by 55.6% during the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

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.