Hershey (NYSE:HSY) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $115.00 price target on the stock, down from their prior price target of $129.00. Credit Suisse Group’s target price would suggest a potential upside of 11.68% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Sanford C. Bernstein set a $124.00 target price on shares of Hershey and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Friday, December 29th. Citigroup increased their price target on shares of Hershey from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada reissued a “hold” rating and issued a $122.00 price target on shares of Hershey in a report on Friday, December 22nd. Finally, Susquehanna Bancshares set a $113.00 price target on shares of Hershey and gave the stock a “hold” rating in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $111.72.
Hershey (HSY) traded down $0.80 during midday trading on Friday, reaching $102.97. 2,333,198 shares of the company’s stock traded hands, compared to its average volume of 921,081. Hershey has a fifty-two week low of $101.61 and a fifty-two week high of $116.49. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 2.21. The stock has a market cap of $21,530.00, a PE ratio of 29.67, a PEG ratio of 2.54 and a beta of 0.26.
Hershey declared that its board has approved a stock buyback plan on Thursday, October 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other Hershey news, insider Michele Buck sold 400 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $114.95, for a total transaction of $45,980.00. Following the completion of the sale, the insider now owns 164,097 shares of the company’s stock, valued at approximately $18,862,950.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP D Michael Wege sold 15,517 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $108.18, for a total transaction of $1,678,629.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,117 shares of company stock worth $1,855,629. 0.92% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HSY. WFG Advisors LP boosted its position in Hershey by 25.2% during the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock valued at $107,000 after buying an additional 201 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Hershey by 528.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock worth $166,000 after purchasing an additional 1,232 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Hershey in the 4th quarter worth about $169,000. Valeo Financial Advisors LLC purchased a new stake in shares of Hershey in the 3rd quarter worth about $174,000. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of Hershey in the 3rd quarter worth about $202,000. 51.54% of the stock is owned by institutional investors and hedge funds.
Hershey Company Profile
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
