Hershey (NYSE:HSY) received a $108.00 target price from equities researchers at Susquehanna Bancshares in a report issued on Wednesday, January 17th. The firm currently has a “hold” rating on the stock. Susquehanna Bancshares’ price target suggests a potential upside of 8.36% from the company’s previous close.
A number of other research analysts have also recently commented on HSY. Morgan Stanley cut shares of Hershey from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Sanford C. Bernstein set a $124.00 price target on shares of Hershey and gave the company a “buy” rating in a report on Tuesday, December 19th. Berenberg Bank raised shares of Hershey from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a report on Monday, December 18th. Finally, Goldman Sachs Group cut shares of Hershey from a “neutral” rating to a “sell” rating and set a $101.00 price target on the stock. in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Hershey presently has a consensus rating of “Hold” and a consensus price target of $111.43.
Hershey (NYSE:HSY) traded up $2.02 during midday trading on Wednesday, hitting $99.67. 1,894,398 shares of the stock were exchanged, compared to its average volume of 1,190,000. Hershey has a twelve month low of $97.62 and a twelve month 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. The firm has a market capitalization of $21,000.00, a PE ratio of 28.72, a P/E/G ratio of 2.15 and a beta of 0.26.
Hershey announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other Hershey news, 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michele Buck sold 400 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total transaction of $45,980.00. Following the sale, the insider now directly owns 164,097 shares in the company, valued at $18,862,950.15. The disclosure for this sale can be found here. Insiders have sold 16,717 shares of company stock worth $1,812,429 over the last three months. 0.92% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC grew its position in shares of Hershey by 1.9% during the second quarter. Ropes Wealth Advisors LLC now owns 5,447 shares of the company’s stock worth $585,000 after acquiring an additional 100 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Hershey by 1.1% during the second quarter. D.A. Davidson & CO. now owns 13,148 shares of the company’s stock worth $1,411,000 after acquiring an additional 138 shares during the last quarter. WFG Advisors LP grew 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 worth $107,000 after acquiring an additional 201 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Hershey by 2.3% during the second quarter. Moors & Cabot Inc. now owns 9,670 shares of the company’s stock worth $1,037,000 after acquiring an additional 220 shares during the last quarter. Finally, People s United Financial Inc. grew its position in shares of Hershey by 2.8% during the second quarter. People s United Financial Inc. now owns 14,837 shares of the company’s stock worth $1,593,000 after acquiring an additional 406 shares during the last quarter. Institutional investors and hedge funds own 51.97% of the company’s stock.
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.
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