Hershey (NYSE:HSY) Given New $172.00 Price Target at TD Cowen

Hershey (NYSE:HSY) had its price target reduced by research analysts at TD Cowen from $190.00 to $172.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 5.84% from the company’s current price.

Several other research analysts have also commented on HSY. Redburn Atlantic started coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Stifel Nicolaus dropped their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Bank of America reiterated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $182.21.

Hershey Stock Performance

Shares of Hershey stock opened at $162.51 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a 1 year low of $159.87 and a 1 year high of $211.92. The firm’s 50-day simple moving average is $174.53 and its 200-day simple moving average is $185.61. The firm has a market cap of $32.88 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Hedge Funds Weigh In On Hershey

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farmers Trust Co. lifted its stake in shares of Hershey by 4.0% in the 4th quarter. Farmers Trust Co. now owns 3,913 shares of the company’s stock worth $663,000 after acquiring an additional 150 shares during the period. Douglas Lane & Associates LLC raised its holdings in Hershey by 15.5% during the fourth quarter. Douglas Lane & Associates LLC now owns 317,461 shares of the company’s stock worth $53,762,000 after purchasing an additional 42,550 shares in the last quarter. Diversified Trust Co acquired a new stake in Hershey in the fourth quarter worth approximately $200,000. Insight Wealth Strategies LLC boosted its stake in Hershey by 18.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 24,545 shares of the company’s stock valued at $4,157,000 after purchasing an additional 3,841 shares in the last quarter. Finally, Pensionfund Sabic increased its position in shares of Hershey by 55.6% during the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 57.96% of the company’s stock.

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.