Hershey (NYSE:HSY) Price Target Raised to $205.00 at Wells Fargo & Company

Hershey (NYSE:HSY - Free Report) had its price objective lifted by Wells Fargo & Company from $200.00 to $205.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently issued reports on HSY. Citigroup reduced their target price on shares of Hershey from $213.00 to $199.00 and set a neutral rating for the company in a research note on Thursday, April 11th. Stifel Nicolaus increased their price objective on Hershey from $195.00 to $205.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Morgan Stanley cut Hershey from an equal weight rating to an underweight rating and dropped their price target for the company from $191.00 to $183.00 in a report on Monday, February 12th. Royal Bank of Canada restated a sector perform rating and set a $213.00 target price on shares of Hershey in a research report on Friday, March 15th. Finally, Piper Sandler decreased their price target on shares of Hershey from $200.00 to $179.00 and set a neutral rating for the company in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $213.06.

Hershey Price Performance

NYSE:HSY traded down $1.43 during midday trading on Monday, hitting $196.49. 1,766,433 shares of the stock were exchanged, compared to its average volume of 1,988,816. The company has a market capitalization of $40.07 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 3.04 and a beta of 0.33. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. Hershey has a one year low of $178.82 and a one year high of $275.89. The business has a 50-day moving average price of $192.08 and a two-hundred day moving average price of $190.80.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the firm posted $2.96 EPS. The company's quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Hershey will post 9.6 EPS for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $1.37 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.79%. Hershey's payout ratio is 54.31%.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the transaction, the chief financial officer now directly owns 38,728 shares of the company's stock, valued at approximately $7,196,824.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Hershey

Several institutional investors have recently bought and sold shares of HSY. Mawer Investment Management Ltd. grew its holdings in Hershey by 48.9% during the first quarter. Mawer Investment Management Ltd. now owns 390,399 shares of the company's stock worth $75,933,000 after acquiring an additional 128,241 shares during the period. Advisory Alpha LLC purchased a new position in Hershey during the first quarter worth approximately $296,000. Mitchell Capital Management Co. acquired a new stake in Hershey during the first quarter worth about $3,154,000. SPC Financial Inc. lifted its stake in shares of Hershey by 2.0% in the 1st quarter. SPC Financial Inc. now owns 3,780 shares of the company's stock valued at $735,000 after purchasing an additional 75 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Hershey by 262.0% in the first quarter. Geneos Wealth Management Inc. now owns 17,555 shares of the company's stock valued at $3,414,000 after purchasing an additional 12,706 shares during the period. 57.96% of the stock is currently 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.