JPMorgan Chase & Co. Raises Hershey (NYSE:HSY) Price Target to $193.00

Hershey (NYSE:HSYFree Report) had its target price upped by JPMorgan Chase & Co. from $185.00 to $193.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. Citigroup assumed coverage on shares of Hershey in a research report on Thursday, February 1st. They set a neutral rating and a $213.00 price target on the stock. TD Cowen lowered shares of Hershey from an outperform rating to a market perform rating and lowered their price objective for the stock from $235.00 to $200.00 in a research report on Friday, October 27th. Wells Fargo & Company lifted their price objective on shares of Hershey from $190.00 to $210.00 and gave the stock an equal weight rating in a research report on Friday. Morgan Stanley lowered their price objective on shares of Hershey from $245.00 to $186.00 and set an equal weight rating on the stock in a research report on Friday, October 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Hershey from $195.00 to $205.00 and gave the stock a hold rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $228.33.

Check Out Our Latest Analysis on HSY

Hershey Stock Down 0.9 %

HSY opened at $193.74 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The company’s 50-day moving average is $189.47 and its 200 day moving average is $198.76. Hershey has a fifty-two week low of $178.82 and a fifty-two week high of $276.88. The firm has a market capitalization of $39.62 billion, a P/E ratio of 21.41, a PEG ratio of 2.63 and a beta of 0.36.

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

Hershey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 20th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $5.48 annualized dividend and a yield of 2.83%. This is a boost from Hershey’s previous quarterly dividend of $1.19. Hershey’s payout ratio is currently 52.71%.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the transaction, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the transaction, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total transaction of $273,105.00. Following the transaction, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at approximately $5,701,704.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,018 shares of company stock valued at $1,331,734. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Hershey

A number of hedge funds and other institutional investors have recently bought and sold shares of HSY. Econ Financial Services Corp lifted its holdings in shares of Hershey by 5.2% in the 2nd quarter. Econ Financial Services Corp now owns 909 shares of the company’s stock worth $227,000 after acquiring an additional 45 shares during the last quarter. PFS Investments Inc. lifted its holdings in shares of Hershey by 4.1% in the 4th quarter. PFS Investments Inc. now owns 1,159 shares of the company’s stock worth $268,000 after acquiring an additional 46 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Hershey by 0.7% in the 2nd quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock worth $1,698,000 after acquiring an additional 47 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Hershey by 1.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 4,281 shares of the company’s stock worth $1,069,000 after acquiring an additional 48 shares during the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of Hershey by 0.4% in the 2nd quarter. Keybank National Association OH now owns 11,421 shares of the company’s stock worth $2,852,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.

Hershey Company Profile

(Get Free Report)

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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