Hershey (NYSE:HSY) Given New $140.00 Price Target at Mizuho

Hershey (NYSE:HSY) had its target price cut by Mizuho from $170.00 to $140.00 in a research report sent to investors on Wednesday morning.

A number of other equities analysts have also commented on the stock. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Jefferies Financial Group reduced their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Bank of America reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. UBS Group cut their target price on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.10.

Hershey Stock Performance

NYSE HSY opened at $145.96 on Wednesday. The company’s 50 day moving average is $165.80 and its 200-day moving average is $181.22. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 12-month low of $140.13 and a 12-month high of $211.92. The firm has a market cap of $29.53 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 4.30 and a beta of 0.37.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Hershey

Several hedge funds and other institutional investors have recently modified their holdings of HSY. State Street Corp increased its stake in shares of Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after buying an additional 109,336 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after purchasing an additional 35,688 shares during the period. Principal Financial Group Inc. lifted its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after purchasing an additional 29,507 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.