Hershey (NYSE:HSY) had its price target cut by equities research analysts at Argus from $125.00 to $120.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. Argus’ price target points to a potential upside of 18.47% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. BMO Capital Markets reiterated a “hold” rating and set a $105.00 target price on shares of Hershey in a research report on Friday, October 27th. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank of Canada reiterated a “hold” rating and set a $122.00 target price on shares of Hershey in a research report on Friday, December 22nd. Citigroup lifted their target price on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, UBS Group lowered their target price on Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $111.43.
Hershey (NYSE:HSY) traded up $1.12 during mid-day trading on Tuesday, hitting $101.29. The stock had a trading volume of 2,544,095 shares, compared to its average volume of 1,178,912. The stock has a market cap of $21,110.00, a P/E ratio of 29.19, a P/E/G ratio of 2.51 and a beta of 0.26. Hershey has a 52-week low of $98.85 and a 52-week high of $116.49. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 2.21.
Hershey (NYSE:HSY) last released its earnings results on Thursday, February 1st. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Hershey had a net margin of 10.42% and a return on equity of 116.74%. Hershey’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. sell-side analysts expect that Hershey will post 5.35 earnings per share for the current year.
Hershey declared that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, SVP D Michael Wege sold 15,517 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $108.18, for a total value of $1,678,629.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 400 shares of Hershey stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $111.55, for a total value of $44,620.00. Following the completion of the sale, the chief executive officer now directly owns 163,697 shares in the company, valued at $18,260,400.35. The disclosure for this sale can be found here. Insiders sold 17,117 shares of company stock worth $1,855,629 over the last 90 days. Company insiders own 0.92% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. State Street Corp increased its holdings in shares of Hershey by 1.2% in the second quarter. State Street Corp now owns 6,270,169 shares of the company’s stock worth $673,225,000 after purchasing an additional 75,548 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Hershey by 15.4% in the third quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock worth $476,949,000 after purchasing an additional 582,715 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Hershey by 45.4% in the fourth quarter. APG Asset Management N.V. now owns 1,885,679 shares of the company’s stock worth $178,251,000 after purchasing an additional 588,500 shares during the last quarter. Marathon Asset Management LLP increased its holdings in shares of Hershey by 39.2% in the fourth quarter. Marathon Asset Management LLP now owns 1,694,259 shares of the company’s stock worth $192,322,000 after purchasing an additional 477,539 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Hershey by 106.0% in the third quarter. First Eagle Investment Management LLC now owns 1,115,299 shares of the company’s stock worth $121,757,000 after purchasing an additional 573,799 shares during the last quarter. 51.97% of the stock is currently owned by hedge funds and other institutional investors.
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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.