TD Cowen Lowers Hershey (NYSE:HSY) Price Target to $172.00

Hershey (NYSE:HSY) had its price objective decreased by investment analysts at TD Cowen from $190.00 to $172.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 5.84% from the stock’s previous close.

A number of other equities analysts have also weighed in on HSY. Piper Sandler boosted their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Mizuho dropped their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price target on Hershey from $160.00 to $150.00 and set an “underweight” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus target price of $182.21.

Hershey Stock Down 1.8 %

HSY opened at $162.51 on Wednesday. The firm has a market cap of $32.88 billion, a P/E ratio of 18.72, a PEG ratio of 4.38 and a beta of 0.38. The business’s fifty day simple moving average is $174.53 and its 200 day simple moving average is $185.61. Hershey has a 52 week low of $159.87 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Farmers Trust Co. lifted its holdings in Hershey by 4.0% in the 4th quarter. Farmers Trust Co. now owns 3,913 shares of the company’s stock worth $663,000 after buying an additional 150 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Hershey by 15.5% during the fourth quarter. Douglas Lane & Associates LLC now owns 317,461 shares of the company’s stock worth $53,762,000 after acquiring an additional 42,550 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Hershey in the fourth quarter worth about $200,000. Insight Wealth Strategies LLC lifted its stake in shares of Hershey by 18.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 24,545 shares of the company’s stock worth $4,157,000 after acquiring an additional 3,841 shares in the last quarter. Finally, Pensionfund Sabic boosted its holdings in Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after purchasing an additional 3,000 shares during the last quarter. 57.96% of the stock is 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.