Hershey (NYSE:HSY) Price Target Cut to $180.00

by · The Markets Daily

Hershey (NYSE:HSY – Get Free Report) had its price target lowered by research analysts at Stifel Nicolaus from $195.00 to $180.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 1.21% from the stock’s current price.

Several other research analysts also recently issued reports on HSY. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Bank of America dropped their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Barclays dropped their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Finally, Jefferies Financial Group downgraded shares of Hershey from a “hold” rating to an “underperform” rating and cut their target price for the stock from $184.00 to $163.00 in a research report on Thursday, September 26th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $191.55.

Check Out Our Latest Stock Report on Hershey

Hershey Price Performance

Shares of HSY stock opened at $182.20 on Friday. The business has a fifty day simple moving average of $193.04 and a 200 day simple moving average of $192.88. The company has a market cap of $36.85 billion, a P/E ratio of 18.06, a P/E/G ratio of 5.44 and a beta of 0.37. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. Hershey has a twelve month low of $178.82 and a twelve month high of $211.92.

Hershey (NYSE:HSY – Get Free Report) last posted its 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm’s revenue was down 16.7% compared to the same quarter last year. During the same period last year, the company posted $2.01 EPS. On average, sell-side analysts forecast that Hershey will post 9.47 EPS for the current fiscal year.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the period. International Assets Investment Management LLC raised its position in shares of Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the period. Confluence Investment Management LLC raised its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Hershey in the 2nd quarter worth $82,123,000. Finally, Bryn Mawr Capital Management LLC grew its position in Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after purchasing an additional 249,129 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

(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.

Read More