DA Davidson Has Lowered Expectations for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price target cut by research analysts at DA Davidson from $164.00 to $149.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential downside of 3.86% from the stock’s previous close.

HSY has been the topic of several other reports. Jefferies Financial Group reduced their target price on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. TD Cowen cut their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and decreased their target price for the company from $159.00 to $154.00 in a research report on Friday. Bank of America reiterated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.52.

Hershey Stock Performance

HSY opened at $154.98 on Monday. The business has a 50 day moving average of $164.38 and a 200-day moving average of $180.46. Hershey has a 12-month low of $140.13 and a 12-month high of $211.92. The stock has a market cap of $31.36 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 4.89 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, equities research analysts expect that Hershey will post 6.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hershey by 317.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,209 shares of the company’s stock valued at $6,809,000 after buying an additional 30,570 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in Hershey during the fourth quarter valued at about $135,000. Sequoia Financial Advisors LLC boosted its position in Hershey by 34.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,328 shares of the company’s stock worth $902,000 after purchasing an additional 1,370 shares during the period. Moors & Cabot Inc. increased its stake in shares of Hershey by 3.2% in the fourth quarter. Moors & Cabot Inc. now owns 9,301 shares of the company’s stock worth $1,575,000 after purchasing an additional 286 shares in the last quarter. Finally, Markel Group Inc. raised its position in shares of Hershey by 25.0% in the fourth quarter. Markel Group Inc. now owns 45,000 shares of the company’s stock valued at $7,621,000 after purchasing an additional 9,000 shares during the period. 57.96% of the stock is owned by 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.