Hershey (NYSE:HSY) Price Target Lowered to $161.00 at Jefferies Financial Group

Hershey (NYSE:HSY) had its target price lowered by Jefferies Financial Group from $163.00 to $161.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an underperform rating on the stock.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Finally, Bank of America dropped their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus price target of $191.61.

Hershey Trading Up 0.9 %

Shares of NYSE:HSY opened at $179.26 on Thursday. The business’s 50-day moving average is $190.76 and its 200 day moving average is $192.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. Hershey has a 1 year low of $176.78 and a 1 year high of $211.92. The firm has a market capitalization of $36.26 billion, a P/E ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.38.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS. On average, research analysts predict that Hershey will post 9.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the business’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 owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. International Assets Investment Management LLC increased 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 in the last quarter. Confluence Investment Management LLC raised its stake in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after purchasing an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hershey in the 2nd quarter valued at $82,123,000. Finally, Principal Financial Group Inc. boosted its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

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.