Hershey (NYSE:HSY) Given New $148.00 Price Target at Deutsche Bank Aktiengesellschaft

Hershey (NYSE:HSY) had its target price cut by Deutsche Bank Aktiengesellschaft from $184.00 to $148.00 in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have a hold rating on the stock.

A number of other brokerages also recently commented on HSY. Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 price target on shares of Hershey in a report on Tuesday, December 10th. Mizuho dropped their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Finally, TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.32.

Hershey Stock Performance

Shares of HSY opened at $149.84 on Thursday. Hershey has a 1 year low of $148.74 and a 1 year high of $211.92. The stock has a market capitalization of $30.32 billion, a PE ratio of 17.26, a PEG ratio of 4.30 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a 50-day simple moving average of $170.12 and a 200-day simple moving average of $183.73.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.66%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC lifted its holdings in shares of Hershey by 5.6% during the second quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock worth $695,000 after purchasing an additional 200 shares during the period. Sei Investments Co. increased its stake in shares of Hershey by 48.3% during the second quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock worth $14,864,000 after acquiring an additional 26,318 shares during the period. ProShare Advisors LLC increased its stake in shares of Hershey by 11.2% during the second quarter. ProShare Advisors LLC now owns 27,204 shares of the company’s stock worth $5,001,000 after acquiring an additional 2,742 shares during the period. Gabelli Funds LLC purchased a new position in Hershey during the second quarter worth about $460,000. Finally, Public Sector Pension Investment Board lifted its position in Hershey by 64.3% in the second quarter. Public Sector Pension Investment Board now owns 5,470 shares of the company’s stock valued at $1,006,000 after purchasing an additional 2,140 shares during the period. 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.