Citigroup Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price objective dropped by equities research analysts at Citigroup from $165.00 to $159.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price points to a potential downside of 2.16% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Mizuho decreased their price target on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upped 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. JPMorgan Chase & Co. decreased their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $183.00 price target on shares of Hershey in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $182.21.

Hershey Price Performance

Shares of NYSE:HSY opened at $162.51 on Wednesday. The company has a market cap of $32.88 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The company’s fifty day moving average is $174.53 and its two-hundred day moving average is $185.61. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 12-month low of $159.87 and a 12-month high of $211.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Hershey during the third quarter valued at about $25,000. GHP Investment Advisors Inc. lifted its position in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Hershey during the 3rd quarter valued at approximately $46,000. Future Financial Wealth Managment LLC acquired a new stake in Hershey in the 3rd quarter valued at approximately $48,000. Finally, Quarry LP grew its holdings in Hershey by 123.9% in the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after buying an additional 166 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.