Morgan Stanley Raises Hershey Price Target to $195 Amid Market Adjustments

Hershey’s stock price target has been adjusted upward by Morgan Stanley, increasing from **$184.00** to **$195.00**. This revision, announced in a report published on **October 30, 2023**, reflects a cautious optimism regarding the confectionery company’s market performance. Morgan Stanley has assigned an “equal weight” rating to Hershey, indicating a neutral outlook on the stock.

Multiple analysts have recently assessed Hershey’s market position. On the same day Morgan Stanley issued its report, **TD Cowen** lowered its target price from **$204.00** to **$200.00**, maintaining a “hold” rating. Earlier, on **September 15**, **BNP Paribas Exane** upgraded Hershey from “neutral” to “outperform.” In contrast, **JPMorgan Chase & Co.** increased its price target from **$187.00** to **$189.00**, also assigning a “neutral” rating. Meanwhile, **Wells Fargo & Company** adjusted its target from **$154.00** to **$157.00**, labeling the stock as “underweight.” Notably, **Stifel Nicolaus** reduced its target from **$195.00** to **$185.00** while keeping a “hold” rating.

Overall, analysis from MarketBeat indicates that three research analysts have rated Hershey as a “buy,” while eighteen have assigned a “hold” rating, and one has recommended a “sell.” The average target price stands at **$182.79**.

Quarterly Earnings Overview

Hershey recently reported its quarterly earnings, showing a **net income** of **$1.30** per share, surpassing analysts’ expectations of **$1.06** by **$0.24**. With a net margin of **11.84%** and a return on equity of **32.08%**, the company generated revenues of **$3.18 billion**, exceeding the consensus estimate of **$3.11 billion**. This marks a **6.5%** increase in revenue compared to the same quarter last year when the company reported earnings of **$2.34** per share.

For the fiscal year **2025**, Hershey has set guidance for earnings per share (EPS) between **$5.90** and **$6.00**, while analysts forecast an EPS of **$6.12** for the current year.

Dividend and Insider Transactions

In addition to these developments, Hershey announced a **quarterly dividend** of **$1.37** per share, set to be paid on **December 15, 2023**. Shareholders recorded on **November 17, 2023**, will receive this dividend, which translates to an annualized payout of **$5.48** and a yield of **3.0%**. The company’s dividend payout ratio is currently **81.91%**.

Amid these updates, **Kirk Tanner**, the CEO of Hershey, acquired **2,000 shares** at an average price of **$185.46** per share, totaling **$370,920.00**. This transaction increased his ownership stake to **47,860 shares**, valued at approximately **$8.88 million**. Conversely, **CFO Steven E. Voskuil** sold **1,500 shares** at an average price of **$179.56**, amounting to **$269,340.00**, reducing his holdings to **55,319 shares**, worth about **$9.93 million**.

Over the last three months, insiders have sold a total of **6,000 shares**, valued at **$1.1 million**, while corporate insiders own **0.34%** of the total stock.

Institutional Activity

Recent activity from institutional investors has also shaped Hershey’s stock profile. **Choreo LLC** increased its position by **3.6%** in the second quarter, now holding **1,708 shares** valued at **$283,000**. Similarly, **Fulton Bank N.A.** boosted its holdings by **4.9%**, owning **1,312 shares** valued at **$218,000**. Other notable increases include **Bellevue Asset Management LLC**, which raised its stake by **13.5%**, and **First Horizon Advisors Inc.**, which increased by **12.3%**.

Collectively, institutional investors control approximately **57.96%** of Hershey’s stock.

As Hershey navigates the evolving market landscape, these price adjustments and financial disclosures will be closely watched by analysts and investors alike.