Hershey (NYSE:HSY) Given New $132.00 Price Target at Wells Fargo & Company

Hershey (NYSE:HSY) had its price objective upped by Wells Fargo & Company from $125.00 to $132.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

HSY has been the topic of several other reports. Bank of America reiterated a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Jefferies Financial Group lowered their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Bernstein Bank dropped their target price on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 target price on shares of Hershey in a research report on Monday, February 3rd. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $163.75.

Hershey Trading Down 0.9 %

Hershey stock opened at $170.32 on Friday. The business has a 50 day moving average price of $162.15 and a two-hundred day moving average price of $175.74. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. Hershey has a 12 month low of $140.13 and a 12 month high of $211.92. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last issued 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 return on equity of 44.77% and a net margin of 19.83%. As a group, equities analysts forecast that Hershey will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is presently 50.28%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the third quarter worth about $25,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Hershey in the third quarter valued at approximately $251,000. Ashton Thomas Private Wealth LLC increased its holdings in Hershey by 10.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,260 shares of the company’s stock worth $434,000 after purchasing an additional 206 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hershey by 62.4% during the third quarter. Victory Capital Management Inc. now owns 160,807 shares of the company’s stock worth $30,840,000 after buying an additional 61,765 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Hershey by 5.9% during the 3rd quarter. KBC Group NV now owns 54,701 shares of the company’s stock worth $10,490,000 after acquiring an additional 3,071 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

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.