Hershey (NYSE:HSY) Price Target Raised to $168.00 at Piper Sandler

Hershey (NYSE:HSY) had its price target hoisted by investment analysts at Piper Sandler from $165.00 to $168.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 2.96% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group began coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Barclays dropped their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus target price of $191.78.

Hershey Stock Up 0.2 %

Shares of NYSE HSY opened at $173.13 on Friday. The firm has a market cap of $35.02 billion, a PE ratio of 19.24, a P/E/G ratio of 4.14 and a beta of 0.38. Hershey has a 12-month low of $171.67 and a 12-month high of $211.92. The company’s fifty day simple moving average is $189.89 and its 200 day simple moving average is $192.34. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, November 7th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.16). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.07 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. As a group, sell-side analysts forecast that Hershey will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Large investors have recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares during the period. CreativeOne Wealth LLC lifted its position in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after purchasing an additional 4,468 shares during the last quarter. SG Americas Securities LLC lifted its position in Hershey by 239.2% during the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after purchasing an additional 15,538 shares during the last quarter. Sei Investments Co. lifted its position in Hershey by 2.2% during the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Hershey by 20.1% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after purchasing an additional 2,635 shares during the last quarter. 57.96% of the stock is currently 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.