Citigroup Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

by · The Markets Daily

Hershey (NYSE:HSY – Get Free Report) had its price objective dropped by equities research analysts at Citigroup from $165.00 to $159.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. Citigroup’s target price would indicate a potential downside of 4.15% from the stock’s current price.

HSY has been the topic of several other research reports. Wells Fargo & Company dropped their price target on shares of Hershey from $160.00 to $150.00 and set an “underweight” rating on the stock in a research note on Tuesday. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Jefferies Financial Group reduced their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on 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 initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, Hershey presently has a consensus rating of “Hold” and a consensus target price of $182.78.

Check Out Our Latest Stock Analysis on HSY

Hershey Stock Down 0.5 %

Hershey stock opened at $165.88 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a one year low of $165.38 and a one year high of $211.92. The company has a 50-day simple moving average of $175.13 and a 200-day simple moving average of $185.94. The firm has a market capitalization of $33.57 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.38 and a beta of 0.38.

Hedge Funds Weigh In On Hershey

A number of institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the third quarter worth about $25,000. GHP Investment Advisors Inc. lifted its position in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Hershey in the 3rd quarter worth approximately $46,000. Future Financial Wealth Managment LLC purchased a new position in Hershey during the 3rd quarter worth approximately $48,000. Finally, Quarry LP raised its stake in Hershey by 123.9% during the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

About Hershey

(Get Free Report)

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.

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