Hershey (NYSE:HSY) Price Target Raised to $163.00

by · The Markets Daily

Hershey (NYSE:HSY – Get Free Report) had its price target boosted by equities researchers at DA Davidson from $162.00 to $163.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price target points to a potential downside of 1.50% from the stock’s current price.

A number of other research firms have also recently commented on HSY. Deutsche Bank Aktiengesellschaft decreased their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. UBS Group decreased their target price on Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Citigroup reduced their price target on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $161.15.

Check Out Our Latest Stock Analysis on Hershey

Hershey Trading Up 1.3 %

Shares of Hershey stock traded up $2.13 during mid-day trading on Monday, hitting $165.48. The stock had a trading volume of 504,359 shares, compared to its average volume of 1,766,925. The firm has a market cap of $33.49 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average of $168.70 and a two-hundred day moving average of $168.79. Hershey has a 12-month low of $140.13 and a 12-month high of $211.92.

Hershey (NYSE:HSY – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.07 EPS. Sell-side analysts forecast that Hershey will post 6.12 earnings per share for the current year.

Institutional Trading of Hershey

Several institutional investors and hedge funds have recently made changes to their positions in the company. Montag & Caldwell LLC acquired a new stake in shares of Hershey in the 4th quarter worth $25,000. Putney Financial Group LLC acquired a new stake in shares of Hershey in the fourth quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Hershey in the 4th quarter valued at about $28,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Hershey during the 1st quarter worth about $28,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

About Hershey

(Get Free Report)

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.

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