Hershey (NYSE:HSY) was downgraded by equities researchers at Credit Suisse Group to a “sell” rating in a report issued on Wednesday. They presently have a $80.00 price objective on the stock. Credit Suisse Group’s price target points to a potential downside of 14.33% from the company’s current price.
Several other analysts have also recently weighed in on HSY. Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $106.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, April 24th. Susquehanna Bancshares dropped their price objective on shares of Hershey from $110.00 to $103.00 and set a “neutral” rating for the company in a research note on Monday, April 23rd. Barclays dropped their price objective on shares of Hershey from $107.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, April 27th. Finally, Societe Generale cut shares of Hershey from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $93.29 to $85.00 in a research note on Friday, April 27th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $102.88.
Hershey opened at $93.38 on Wednesday, according to MarketBeat Ratings. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 2.08. The stock has a market cap of $19.34 billion, a PE ratio of 19.62, a P/E/G ratio of 2.33 and a beta of 0.34. Hershey has a 52-week low of $89.10 and a 52-week high of $115.82.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, April 26th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.01. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Hershey had a net margin of 13.25% and a return on equity of 113.86%. Hershey’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. equities research analysts expect that Hershey will post 5.34 earnings per share for the current year.
In other Hershey news, Director David L. Shedlarz sold 5,450 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $91.25, for a total transaction of $497,312.50. Following the sale, the director now directly owns 11,723 shares of the company’s stock, valued at approximately $1,069,723.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Hershey by 3,144.3% in the 1st quarter. BlackRock Inc. now owns 10,106,348 shares of the company’s stock worth $1,104,118,000 after purchasing an additional 9,794,835 shares during the period. Janus Henderson Group PLC lifted its position in shares of Hershey by 19,853.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock worth $406,519,000 after purchasing an additional 3,767,172 shares during the period. Pioneer Investment Management Inc. lifted its position in shares of Hershey by 223.9% in the 4th quarter. Pioneer Investment Management Inc. now owns 3,339,916 shares of the company’s stock worth $298,154,000 after purchasing an additional 2,308,682 shares during the period. Schroder Investment Management Group lifted its position in shares of Hershey by 349.9% in the 1st quarter. Schroder Investment Management Group now owns 2,134,067 shares of the company’s stock worth $211,187,000 after purchasing an additional 1,659,697 shares during the period. Finally, Norges Bank acquired a new position in shares of Hershey in the 4th quarter worth approximately $136,670,000. 54.03% of the stock is currently owned by hedge funds and other institutional investors.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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