Hershey (NYSE:HSY) Price Target Cut to $170.00 by Analysts at Barclays

Hershey (NYSE:HSY) had its target price cut by Barclays from $180.00 to $170.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 10.53% from the stock’s current price.

HSY has been the topic of a number of other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. TD Cowen cut their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Piper Sandler decreased their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Jefferies Financial Group reduced their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Price Performance

HSY stock traded down $0.21 during mid-day trading on Friday, hitting $153.81. The company had a trading volume of 675,919 shares, compared to its average volume of 1,951,927. The company has a 50-day moving average price of $172.69 and a 200 day moving average price of $184.81. Hershey has a 12-month low of $150.31 and a 12-month high of $211.92. The company has a market capitalization of $31.12 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 4.31 and a beta of 0.38. 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 Investors Weigh In On Hershey

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burns J W & Co. Inc. NY increased its position in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Brighton Jones LLC grew its stake in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC raised its position in Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after purchasing an additional 63 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of Hershey by 1.6% in the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares during the period. Institutional investors own 57.96% of the company’s stock.

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.