Hershey (NYSE:HSY) Price Target Cut to $185.00 by Analysts at Mizuho

Hershey (NYSE:HSY) had its price objective dropped by stock analysts at Mizuho from $195.00 to $185.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price points to a potential downside of 3.91% from the stock’s previous close.

A number of other brokerages have also recently issued reports on HSY. BTIG Research assumed coverage on Hershey in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Hershey from $185.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Wells Fargo & Company reduced their price objective on shares of Hershey from $220.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Stifel Nicolaus reduced their price objective on shares of Hershey from $230.00 to $215.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hershey in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $217.78.

Hershey Trading Up 0.4%

NYSE:HSY opened at $192.54 on Wednesday. The firm’s fifty day moving average is $201.27 and its 200-day moving average is $197.23. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. Hershey has a 52 week low of $150.04 and a 52 week high of $239.48. The firm has a market cap of $39.05 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.15 and a beta of 0.07.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Hershey will post 8.45 earnings per share for the current year.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at $11,198,599.50. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Reiman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $452,140.00. Following the completion of the sale, the senior vice president directly owned 41,036 shares of the company’s stock, valued at $9,277,008.52. This represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,500 shares of company stock worth $1,859,600 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of Hershey

Hedge funds have recently made changes to their positions in the company. Bard Associates Inc. purchased a new stake in shares of Hershey during the 4th quarter valued at approximately $26,000. Reflection Asset Management bought a new position in Hershey in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in Hershey in the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC bought a new position in Hershey in the 4th quarter worth approximately $27,000. Finally, Manchester Capital Management LLC boosted its holdings in Hershey by 123.0% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.