The Hershey Company (NYSE:HSY – Get Rating) saw unusually-high trading volume on Monday after Wells Fargo & Company raised their price target on the stock from $220.00 to $230.00. Wells Fargo & Company currently has an underweight rating on the stock. Approximately 333,644 shares changed hands during trading, a decline of 69% from the previous session's volume of 1,080,344 shares.The stock last traded at $237.20 and had previously closed at $236.28.
A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Hershey from $255.00 to $277.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $236.00 to $246.00 and gave the stock a "hold" rating in a research report on Tuesday, December 6th. BNP Paribas started coverage on shares of Hershey in a research report on Tuesday, November 15th. They set a "neutral" rating and a $235.00 price target on the stock. Mizuho increased their price objective on shares of Hershey from $210.00 to $222.00 and gave the stock a "neutral" rating in a research report on Monday, November 7th. Finally, Erste Group Bank lowered shares of Hershey from a "buy" rating to a "hold" rating in a report on Friday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Hershey currently has an average rating of "Hold" and a consensus target price of $243.71.
Get Hershey alerts:Insider Activity
In related news, major shareholder Hershey Trust Co sold 8,600 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $230.83, for a total value of $1,985,138.00. Following the completion of the sale, the insider now directly owns 39,630 shares of the company's stock, valued at $9,147,792.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Hershey news, major shareholder Hershey Trust Co sold 8,600 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $230.83, for a total transaction of $1,985,138.00. Following the completion of the sale, the insider now owns 39,630 shares in the company, valued at $9,147,792.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Malcolm sold 2,200 shares of the firm's stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $237.24, for a total transaction of $521,928.00. Following the completion of the transaction, the director now owns 12,779 shares in the company, valued at $3,031,689.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,023 shares of company stock worth $9,293,587. 0.34% of the stock is currently owned by corporate insiders.
Institutional Trading of Hershey
Several hedge funds have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC acquired a new stake in Hershey in the third quarter worth $26,000. MCF Advisors LLC bought a new stake in Hershey in the 4th quarter valued at about $28,000. New England Capital Financial Advisors LLC acquired a new position in Hershey during the 4th quarter valued at about $29,000. Zions Bancorporation N.A. grew its position in Hershey by 121.3% in the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company's stock worth $29,000 after purchasing an additional 74 shares during the last quarter. Finally, Ronald Blue Trust Inc. acquired a new stake in shares of Hershey in the second quarter valued at approximately $33,000. Institutional investors own 54.17% of the company's stock.Hershey Stock Performance
The company has a debt-to-equity ratio of 1.01, a current ratio of 0.80 and a quick ratio of 0.44. The stock has a fifty day moving average price of $229.38 and a two-hundred day moving average price of $227.50. The company has a market cap of $48.60 billion, a P/E ratio of 29.68, a PEG ratio of 3.28 and a beta of 0.35.
Hershey (NYSE:HSY – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.25. Hershey had a return on equity of 57.76% and a net margin of 15.79%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period last year, the firm earned $1.69 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities analysts forecast that The Hershey Company will post 9.39 earnings per share for the current fiscal year.
Hershey Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be paid a $1.036 dividend. This represents a $4.14 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, February 16th. Hershey's dividend payout ratio is currently 52.01%.
Hershey Company Profile
(Get Rating)
The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.
Featured Stories
- Get a free copy of the StockNews.com research report on Hershey (HSY)
- 2023 Consumer Lending Study – Trends, Statistics, and Forecast
- Here's the Silver Lining with Snap Stock Earnings Collapse
- Mullen Automotive Stock, The Tide Has Turned
- Is BigBear.ai Stock a Diamond in the Rough?
- Apple: What's The Post-Earnings Play?
Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.