Hershey (NYSE:HSY) PT Lowered to $202.00

Hershey (NYSE:HSY) had its target price decreased by analysts at Barclays from $204.00 to $202.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 4.45% from the stock’s previous close.

Several other research firms have also recently issued reports on HSY. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $200.61.

Hershey Price Performance

NYSE:HSY traded down $1.74 during mid-day trading on Tuesday, hitting $193.40. 280,318 shares of the company’s stock traded hands, compared to its average volume of 1,733,357. Hershey has a 1 year low of $178.82 and a 1 year high of $211.92. The company has a market cap of $39.11 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The firm’s 50 day simple moving average is $196.42 and its 200 day simple moving average is $194.10.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Sell-side analysts expect that Hershey will post 9.5 EPS for the current year.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the sale, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction 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 $644,912.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its stake in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in Hershey by 179.4% in the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,468 shares in the last quarter. Prudential PLC lifted its position in shares of Hershey by 21.8% in the 4th quarter. Prudential PLC now owns 100,084 shares of the company’s stock worth $18,660,000 after acquiring an additional 17,890 shares during the period. Bridgefront Capital LLC acquired a new stake in shares of Hershey during the 4th quarter worth approximately $972,000. Finally, Oak Harvest Investment Services acquired a new stake in shares of Hershey during the 1st quarter worth approximately $5,383,000. 57.96% of the stock is owned by institutional investors and hedge funds.

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.