Hershey (NYSE:HSY) had its target price decreased by equities research analysts at Barclays from $110.00 to $107.00 in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the stock. Barclays’ target price would indicate a potential upside of 3.91% from the stock’s current price.
Several other equities analysts have also recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Hershey from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Friday. Credit Suisse Group cut shares of Hershey from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $129.00 to $115.00 in a research note on Friday. Royal Bank of Canada reissued a “hold” rating and issued a $120.00 price objective on shares of Hershey in a research note on Tuesday. Susquehanna Bancshares reissued a “neutral” rating and issued a $110.00 price objective (up from $108.00) on shares of Hershey in a research note on Tuesday. Finally, Goldman Sachs Group cut shares of Hershey from a “neutral” rating to a “sell” rating and set a $101.00 price objective on the stock. in a research note on Tuesday, January 16th. Four 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 stock presently has a consensus rating of “Hold” and a consensus target price of $111.72.
Hershey (NYSE HSY) traded down $0.80 during mid-day trading on Friday, reaching $102.97. 2,333,198 shares of the company traded hands, compared to its average volume of 921,081. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.55 and a current ratio of 0.95. The stock has a market cap of $21,700.00, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.26. Hershey has a 1 year low of $101.61 and a 1 year high of $116.49.
Hershey declared that its board has authorized a share buyback program on Thursday, October 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Michele Buck sold 400 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $111.55, for a total transaction of $44,620.00. Following the transaction, the chief executive officer now directly owns 163,697 shares of the company’s stock, valued at approximately $18,260,400.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP D Michael Wege sold 15,517 shares of the company’s stock in a transaction on Monday, November 13th. The stock was 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. Over the last ninety days, insiders have sold 17,117 shares of company stock worth $1,855,629. Corporate insiders own 0.92% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP grew its stake in Hershey by 25.2% in the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock valued at $107,000 after acquiring an additional 201 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Hershey by 528.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock valued at $166,000 after acquiring an additional 1,232 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Hershey in the 4th quarter valued at about $169,000. Valeo Financial Advisors LLC acquired a new stake in Hershey in the 3rd quarter valued at about $174,000. Finally, Douglas Lane & Associates LLC acquired a new stake in Hershey in the 3rd quarter valued at about $202,000. 51.54% of the stock is currently owned by hedge funds and other institutional investors.
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About Hershey
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.
