Hershey (NYSE:HSY) Downgraded by Citigroup to Sell

Hershey (NYSE:HSY) was downgraded by equities research analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday, FinViz reports. They presently have a $182.00 price target on the stock, down from their prior price target of $195.00. Citigroup’s target price points to a potential downside of 7.34% from the company’s current price.

Several other brokerages have also commented on HSY. Wells Fargo & Company lowered their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Bank of America dropped their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $192.00 to $191.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein reduced their target price on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $202.79.

Hershey Stock Performance

Shares of HSY opened at $196.41 on Tuesday. Hershey has a 52 week low of $178.82 and a 52 week high of $219.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a 50 day moving average price of $191.37 and a two-hundred day moving average price of $193.23. The firm has a market capitalization of $39.72 billion, a P/E ratio of 19.47, a P/E/G ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the business posted $2.01 earnings per share. Hershey’s revenue was down 16.7% on a year-over-year basis. Equities analysts forecast that Hershey will post 9.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The disclosure for this sale can be found here. Insiders sold a total of 3,538 shares of company stock worth $667,793 over the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Hershey

Several large investors have recently bought and sold shares of HSY. Vanguard Group Inc. lifted its position in Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. Norges Bank purchased a new stake in shares of Hershey in the 4th quarter worth approximately $349,448,000. Confluence Investment Management LLC increased its position in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hershey in the second quarter worth $82,123,000. Finally, Bryn Mawr Capital Management LLC grew its stake in shares of Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after acquiring an additional 249,129 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Company Profile

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.