Citigroup Cuts Hershey (NYSE:HSY) Price Target to $165.00

Hershey (NYSE:HSY - Free Report) had its target price lowered by Citigroup from $173.00 to $165.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

HSY has been the subject of a number of other research reports. Bernstein Bank lowered their price target on shares of 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. dropped their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price target on Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, February 7th. TD Cowen dropped their price objective on Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $163.35.

Hershey Price Performance

Shares of NYSE:HSY traded up $2.18 during trading on Tuesday, reaching $166.41. The stock had a trading volume of 1,120,479 shares, compared to its average volume of 1,793,855. The stock 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. 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 has a 52 week low of $140.13 and a 52 week high of $211.92. The business's 50-day moving average price is $168.78 and its 200 day moving average price is $170.42.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate 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 predict that Hershey will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.29%. Hershey's payout ratio is 50.28%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the company's 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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors boosted its position in Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after purchasing an additional 247,675 shares in the last quarter. Geode Capital Management LLC lifted its position in Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after buying an additional 47,394 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Hershey by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock valued at $267,396,000 after acquiring an additional 154,238 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

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.