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

Hershey (NYSE:HSY) had its price target increased by Piper Sandler from $165.00 to $168.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential downside of 2.96% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Bank of America cut their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the company from $226.00 to $209.00 in a report on Monday, October 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $191.78.

Hershey Stock Performance

Shares of HSY stock opened at $173.13 on Friday. The company has a market capitalization of $35.02 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 4.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The company has a 50-day simple moving average of $189.89 and a 200 day simple moving average of $192.34. Hershey has a 52 week low of $171.67 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, November 7th. The company reported $2.34 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%. On average, sell-side analysts predict that Hershey will post 9.39 earnings per share for the current year.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the 3rd quarter valued at $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Hershey in the 2nd quarter valued at $29,000. Finally, Crewe Advisors LLC bought a new stake in shares of Hershey in the 1st quarter valued at $35,000. 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.