Hershey (NYSE:HSY) Price Target Cut to $140.00 by Analysts at Wells Fargo & Company

Hershey (NYSE:HSY) had its price objective lowered by investment analysts at Wells Fargo & Company from $150.00 to $140.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 9.16% from the stock’s current price.

Other analysts also recently issued reports about the stock. Piper Sandler dropped their price objective on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup cut their price objective on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Redburn Atlantic started coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Finally, TD Cowen decreased their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $176.95.

Hershey Trading Up 1.6 %

Shares of HSY opened at $154.13 on Friday. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. The company has a market capitalization of $31.19 billion, a P/E ratio of 17.76, a P/E/G ratio of 4.31 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $172.69 and its 200 day simple moving average is $184.81.

Hedge Funds Weigh In On Hershey

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Hershey by 11.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,305 shares of the company’s stock worth $2,777,000 after purchasing an additional 1,586 shares in the last quarter. Blair William & Co. IL lifted its position in Hershey by 10.3% during the second quarter. Blair William & Co. IL now owns 34,394 shares of the company’s stock valued at $6,323,000 after buying an additional 3,209 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Hershey by 13.4% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,024 shares of the company’s stock valued at $2,578,000 after buying an additional 1,656 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Hershey in the 2nd quarter worth about $1,106,000. Hedge funds and other 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.