Hershey (NYSE:HSY – Get Rating) had its price objective increased by investment analysts at Wells Fargo & Company from $220.00 to $230.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's target price indicates a potential downside of 0.82% from the company's previous close.
Several other research firms have also weighed in on HSY. Morgan Stanley lifted their price objective on shares of Hershey from $231.00 to $246.00 and gave the stock an "equal weight" rating in a research note on Friday. Mizuho upped their price objective on shares of Hershey from $210.00 to $222.00 and gave the company a "neutral" rating in a research report on Monday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $236.00 to $246.00 and gave the stock a "hold" rating in a report on Tuesday, December 6th. BNP Paribas started coverage on Hershey in a report on Tuesday, November 15th. They set a "neutral" rating and a $235.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on Hershey from $255.00 to $277.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $238.35.
Get Hershey alerts:Hershey Trading Down 1.1 %
Shares of NYSE:HSY traded down $2.53 during trading on Friday, hitting $231.89. 144,931 shares of the company's stock were exchanged, compared to its average volume of 1,053,723. The firm has a 50-day moving average price of $229.33 and a two-hundred day moving average price of $227.28. Hershey has a 1-year low of $193.09 and a 1-year high of $242.63. The firm has a market cap of $47.56 billion, a P/E ratio of 30.27, a PEG ratio of 3.27 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.45 and a debt-to-equity ratio of 1.08.
Hershey (NYSE:HSY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.25. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.58 billion. Hershey had a return on equity of 58.19% and a net margin of 15.69%. The firm's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 EPS. Equities analysts predict that Hershey will post 8.28 earnings per share for the current year.Insiders Place Their Bets
In other Hershey news, major shareholder Hershey Trust Co sold 8,600 shares of the business's stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $230.83, for a total transaction of $1,985,138.00. Following the transaction, the insider now owns 39,630 shares of the company's stock, valued at $9,147,792.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Charles R. Raup sold 1,512 shares of the company's stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $236.38, for a total value of $357,406.56. Following the transaction, the insider now owns 13,713 shares of the company's stock, valued at $3,241,478.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hershey Trust Co sold 8,600 shares of the company's stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $230.83, for a total value of $1,985,138.00. Following the completion of the transaction, the insider now directly owns 39,630 shares in the company, valued at approximately $9,147,792.90. The disclosure for this sale can be found here. Insiders have sold a total of 41,023 shares of company stock valued at $9,293,587 over the last 90 days. 0.34% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Hershey
Institutional investors and hedge funds have recently made changes to their positions in the company. Dupont Capital Management Corp grew its position in shares of Hershey by 26.3% in the third quarter. Dupont Capital Management Corp now owns 5,959 shares of the company's stock valued at $1,314,000 after purchasing an additional 1,241 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Hershey by 1.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 83,868 shares of the company's stock valued at $18,490,000 after buying an additional 997 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Hershey by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 76,681 shares of the company's stock valued at $16,906,000 after buying an additional 614 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in shares of Hershey by 6.1% in the third quarter. Alpha Omega Wealth Management LLC now owns 1,310 shares of the company's stock valued at $289,000 after buying an additional 75 shares during the period. Finally, Joel Isaacson & Co. LLC bought a new stake in shares of Hershey in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 54.17% of the company's stock.
About Hershey
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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.
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