Hershey (NYSE:HSY) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

Hershey (NYSE:HSY) had its target price decreased by analysts at Wells Fargo & Company from $160.00 to $150.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 7.70% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Bank of America reissued a “neutral” rating and set a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Mizuho reduced their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Finally, Barclays dropped their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $182.21.

Hershey Stock Performance

Hershey stock opened at $162.51 on Tuesday. Hershey has a 12 month low of $159.87 and a 12 month high of $211.92. The stock’s 50-day moving average is $174.83 and its 200-day moving average is $185.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market cap of $32.88 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Institutional Trading of Hershey

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the period. Geode Capital Management LLC grew its holdings in shares of Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after buying an additional 35,688 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after buying an additional 29,507 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

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.