Hershey (NYSE:HSY) Raised to Neutral at Citigroup

Hershey (NYSE:HSY) was upgraded by analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday,Finviz reports. The brokerage currently has a $154.00 price objective on the stock, down from their previous price objective of $159.00. Citigroup’s price objective points to a potential upside of 1.03% from the company’s previous close.

Several other research firms have also commented on HSY. Barclays lowered their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group lowered their target price on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company cut their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of “Hold” and a consensus price target of $166.85.

Hershey Stock Performance

HSY opened at $152.43 on Friday. Hershey has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $30.84 billion, a PE ratio of 17.56, a PEG ratio of 4.30 and a beta of 0.38. The firm’s 50-day moving average price is $165.24 and its 200 day moving average price is $180.97.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 16.17% and a return on equity of 43.24%. As a group, sell-side analysts expect that Hershey will post 9.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hershey

Hedge funds have recently modified their holdings of the stock. Czech National Bank increased its stake in shares of Hershey by 6.9% during the third quarter. Czech National Bank now owns 30,082 shares of the company’s stock worth $5,769,000 after acquiring an additional 1,952 shares during the period. Atomi Financial Group Inc. acquired a new position in Hershey during the 3rd quarter worth approximately $235,000. Brookstone Capital Management raised its stake in shares of Hershey by 5.7% during the 3rd quarter. Brookstone Capital Management now owns 10,107 shares of the company’s stock worth $1,938,000 after buying an additional 544 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Hershey by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 1,372 shares of the company’s stock valued at $257,000 after buying an additional 74 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Hershey by 5.7% in the third quarter. UMB Bank n.a. now owns 15,212 shares of the company’s stock valued at $2,917,000 after buying an additional 822 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

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.