Hershey (NYSE:HSY) Trading 3.8% Higher – Here’s What Happened

The Hershey Company (NYSE:HSY)’s stock price shot up 3.8% on Thursday . The company traded as high as $183.83 and last traded at $183.73. 1,871,882 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 1,812,316 shares. The stock had previously closed at $177.00.

Analysts Set New Price Targets

A number of research firms recently weighed in on HSY. Mizuho dropped their target price on Hershey from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday. Six research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $185.17.

Hershey Stock Performance

The company has a market capitalization of $37.05 billion, a PE ratio of 21.08, a PEG ratio of 4.24 and a beta of 0.37. The company has a 50 day moving average of $179.93 and a two-hundred day moving average of $188.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 2.99%. Hershey’s payout ratio is 63.13%.

Institutional Investors Weigh In On Hershey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey during the third quarter valued at $25,000. Capital Advisors Ltd. LLC boosted its position in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the second quarter worth about $29,000. Finally, Gradient Investments LLC boosted its position in Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.