Hershey (NYSE:HSY) PT Lowered to $180.00 at JPMorgan Chase & Co.

Hershey (NYSE:HSY) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $188.00 to $180.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 2.33% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. The Goldman Sachs Group began coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Royal Bank of Canada dropped their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America decreased their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Four analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $195.00.

Hershey Trading Down 0.9 %

Shares of NYSE:HSY opened at $184.30 on Monday. The company has a 50 day moving average price of $194.98 and a 200 day moving average price of $193.39. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 5.44 and a beta of 0.37. Hershey has a 1-year low of $178.82 and a 1-year high of $211.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86.

Hershey (NYSE:HSY) last announced its earnings results 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). The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 EPS. On average, research analysts anticipate that Hershey will post 9.47 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 in the company, valued at $6,531,729.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. Janus Henderson Group PLC raised its position in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after buying an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.