JPMorgan Chase & Co. Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price target cut by JPMorgan Chase & Co. from $171.00 to $151.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.19% from the stock’s previous close.

Several other brokerages have also recently weighed in on HSY. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $230.00 to $205.00 in a report on Monday, October 7th. Citigroup decreased their price target on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research note on Wednesday, January 8th. Piper Sandler upped their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays decreased their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, TD Cowen dropped their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $176.42.

Hershey Stock Down 0.8 %

Hershey stock opened at $152.82 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. The company has a fifty day simple moving average of $171.86 and a 200 day simple moving average of $184.39. The company has a market cap of $30.92 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey in the 3rd quarter valued at $25,000. Grove Bank & Trust lifted its position in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Hershey in the third quarter valued at about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Hershey during the third quarter worth about $48,000. 57.96% of the stock is owned by institutional investors.

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.