Hershey (NYSE:HSY) Downgraded by Wells Fargo & Company to Underweight

Wells Fargo & Company cut shares of Hershey (NYSE:HSY) from an equal weight rating to an underweight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $160.00 price objective on the stock, down from their prior price objective of $175.00.

HSY has been the topic of a number of other research reports. Barclays dropped their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $183.00 target price on shares of Hershey in a research report on Tuesday. Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Redburn Atlantic began coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.17.

Hershey Stock Up 3.9 %

Shares of NYSE:HSY opened at $183.95 on Thursday. The business’s 50 day moving average is $180.11 and its 200 day moving average is $188.50. The stock has a market cap of $37.22 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37. Hershey has a 52-week low of $168.16 and a 52-week high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently announced 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. This represents a $5.48 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Investors Weigh In On Hershey

Institutional investors and hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Burns J W & Co. Inc. NY increased its holdings in shares of Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the period. Brighton Jones LLC raised its stake in shares of Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the last quarter. Valley Brook Capital Group Inc. lifted its holdings in shares of Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Hershey by 10.4% in the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock valued at $119,000 after buying an additional 61 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.