Royal Bank of Canada Cuts Hershey (NYSE:HSY) Price Target to $205.00

Hershey (NYSE:HSY) had its price target reduced by Royal Bank of Canada from $209.00 to $205.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Barclays decreased their price target on shares of Hershey from $210.00 to $204.00 and set an equal weight rating for the company in a research note on Tuesday, June 18th. Argus lowered their target price on Hershey from $240.00 to $225.00 and set a buy rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft reduced their price target on Hershey from $192.00 to $191.00 and set a hold rating on the stock in a research note on Friday. Wells Fargo & Company dropped their target price on shares of Hershey from $205.00 to $195.00 and set an equal weight rating on the stock in a report on Friday, June 21st. Finally, Bank of America lowered their price target on shares of Hershey from $210.00 to $200.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $204.50.

Hershey Trading Down 1.0 %

Shares of NYSE:HSY traded down $1.94 during midday trading on Friday, hitting $197.14. 889,614 shares of the stock traded hands, compared to its average volume of 1,858,723. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $189.85 and its two-hundred day moving average is $192.74. The stock has a market capitalization of $39.87 billion, a PE ratio of 19.73, a P/E/G ratio of 4.96 and a beta of 0.36. Hershey has a one year low of $178.82 and a one year high of $230.69.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 EPS. As a group, research analysts forecast that Hershey will post 9.59 earnings per share for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares of the company’s stock, valued at $6,535,723.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 4,500 shares of company stock valued at $867,450 in the last quarter. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hershey

A number of hedge funds have recently modified their holdings of the business. Hamel Associates Inc. raised its position in shares of Hershey by 15.7% during the 2nd quarter. Hamel Associates Inc. now owns 17,263 shares of the company’s stock valued at $3,173,000 after purchasing an additional 2,341 shares during the period. National Bank of Canada FI lifted its position in shares of Hershey by 19.7% in the second quarter. National Bank of Canada FI now owns 73,587 shares of the company’s stock valued at $13,421,000 after acquiring an additional 12,130 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Hershey by 76.1% in the second quarter. Hohimer Wealth Management LLC now owns 21,616 shares of the company’s stock worth $3,974,000 after acquiring an additional 9,341 shares during the period. TD Asset Management Inc grew its position in shares of Hershey by 0.5% during the second quarter. TD Asset Management Inc now owns 353,374 shares of the company’s stock worth $64,961,000 after purchasing an additional 1,697 shares in the last quarter. Finally, GPM Growth Investors Inc. bought a new stake in Hershey during the 2nd quarter valued at approximately $3,438,000. Institutional investors own 57.96% of the company’s stock.

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.