Barclays Lowers Hershey (NYSE:HSY) Price Target to $170.00

Hershey (NYSE:HSY) had its price objective reduced by investment analysts at Barclays from $180.00 to $170.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 11.24% from the stock’s current price.

A number of other analysts also recently weighed in on HSY. Redburn Atlantic assumed coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target on the stock. UBS Group decreased their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research report on Thursday. Piper Sandler cut their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $230.00 to $205.00 in a report on Monday, October 7th. Six research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $176.42.

Hershey Price Performance

Hershey stock opened at $152.82 on Friday. 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 business has a 50 day simple moving average of $171.86 and a 200-day simple moving average of $184.39. Hershey has a 12 month low of $150.31 and a 12 month high of $211.92. The stock has a market capitalization of $30.92 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38.

Institutional Investors Weigh In On Hershey

A number of hedge funds and other institutional investors have recently modified their holdings of HSY. Burns J W & Co. Inc. NY boosted its position in Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Hershey by 1.1% in the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC increased its stake in Hershey by 23.3% in the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after purchasing an additional 63 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in Hershey by 1.6% during the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares during the period. 57.96% of the stock is currently owned by hedge funds and other 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.