Hershey (NYSE:HSY) was upgraded by equities research analysts at Berenberg Bank from a “sell” rating to a “hold” rating in a note issued to investors on Monday. The brokerage presently has a $90.00 price objective on the stock. Berenberg Bank’s price target suggests a potential downside of 21.15% from the company’s current price.
A number of other research analysts have also weighed in on HSY. Susquehanna Bancshares set a $113.00 price objective on Hershey and gave the company a “hold” rating in a research report on Monday. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Monday, October 2nd. UBS cut their target price on Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Citigroup increased their target price on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $105.00 target price on shares of Hershey in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Hershey has an average rating of “Hold” and a consensus target price of $113.35.
Hershey (HSY) traded up $0.78 during mid-day trading on Monday, reaching $114.14. The company had a trading volume of 1,596,800 shares, compared to its average volume of 1,025,538. Hershey has a one year low of $100.11 and a one year high of $116.49. The company has a current ratio of 0.95, a quick ratio of 0.55 and a debt-to-equity ratio of 2.45. The company has a market cap of $24,045.64, a price-to-earnings ratio of 23.29, a PEG ratio of 3.10 and a beta of 0.39.
Hershey declared that its board has initiated a share buyback program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the transaction, the insider now directly owns 165,297 shares of the company’s stock, valued at approximately $17,852,076. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Michael Wege sold 1,100 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $110.26, for a total value of $121,286.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,949 shares of company stock worth $3,594,640. 0.92% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. WFG Advisors LP boosted its position in shares of Hershey by 25.2% during the second 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. Sun Life Financial INC boosted its stake in shares of Hershey by 12,637.5% during the 2nd quarter. Sun Life Financial INC now owns 1,019 shares of the company’s stock worth $109,000 after acquiring an additional 1,011 shares in the last quarter. QCI Asset Management Inc. NY boosted its stake in shares of Hershey by 10.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock worth $110,000 after acquiring an additional 100 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Hershey during the 2nd quarter worth about $125,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Hershey during the 2nd quarter worth about $174,000. 51.32% of the stock is currently owned by 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.
