Hershey (NYSE:HSY) was downgraded by Piper Jaffray Companies from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $125.00 price objective on the stock, up from their prior price objective of $122.00. Piper Jaffray Companies’ price target indicates a potential downside of 9.18% from the company’s previous close.
HSY has been the topic of a number of other reports. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research report on Wednesday, May 8th. Barclays upped their target price on Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Bank of America reaffirmed a “buy” rating and set a $130.00 target price (up from $120.00) on shares of Hershey in a research report on Friday, April 26th. Evercore ISI began coverage on Hershey in a research report on Tuesday, June 11th. They set an “in-line” rating and a $145.00 target price on the stock. Finally, BMO Capital Markets upped their target price on Hershey from $93.00 to $108.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $120.00.
Hershey stock opened at $137.64 on Wednesday. The company has a market cap of $28.79 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.02 and a beta of 0.11. Hershey has a 52-week low of $90.52 and a 52-week high of $139.34. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 2.27.
In related news, insider Todd W. Tillemans purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $129.92 per share, with a total value of $259,840.00. Following the transaction, the insider now owns 15,773 shares of the company’s stock, valued at approximately $2,049,228.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michele Buck sold 1,500 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $138.01, for a total value of $207,015.00. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at $22,071,801.29. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,100 shares of company stock valued at $401,990 and sold 3,696,695 shares valued at $466,645,084. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in Hershey by 26.1% in the 4th quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock valued at $6,069,000 after buying an additional 11,702 shares during the last quarter. Gotham Asset Management LLC raised its position in Hershey by 453.3% in the 4th quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock valued at $9,944,000 after buying an additional 76,011 shares during the last quarter. Captrust Financial Advisors raised its position in Hershey by 126.1% in the 4th quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock valued at $91,000 after buying an additional 473 shares during the last quarter. Keybank National Association OH raised its position in Hershey by 9.9% in the 1st quarter. Keybank National Association OH now owns 21,577 shares of the company’s stock valued at $2,478,000 after buying an additional 1,952 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Hershey by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock valued at $16,729,000 after buying an additional 8,098 shares during the last quarter. 53.56% of the stock is owned by institutional investors and hedge funds.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
See Also: Economic Reports
Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.