TD Cowen Cuts Hershey (NYSE:HSY) Price Target to $172.00

Hershey (NYSE:HSY) had its price objective dropped by equities research analysts at TD Cowen from $190.00 to $172.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 6.49% from the stock’s previous close.

Several other brokerages have also recently commented on HSY. Citigroup reduced their price target on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research report on Wednesday. Piper Sandler raised their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus dropped their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average price target of $182.21.

Hershey Stock Down 2.4 %

NYSE HSY traded down $4.00 during trading on Wednesday, hitting $161.52. The stock had a trading volume of 1,215,173 shares, compared to its average volume of 1,110,934. The company has a market capitalization of $32.68 billion, a PE ratio of 18.61, a P/E/G ratio of 4.38 and a beta of 0.38. Hershey has a 12 month low of $159.87 and a 12 month high of $211.92. The company’s 50-day moving average price is $175.13 and its two-hundred day moving average price is $185.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC acquired a new stake in Hershey in the third quarter worth $25,000. GHP Investment Advisors Inc. grew its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. Peterson Financial Group Inc. bought a new stake in Hershey in the 3rd quarter valued at about $46,000. Future Financial Wealth Managment LLC acquired a new position in Hershey during the 3rd quarter worth approximately $48,000. Finally, Quarry LP boosted its holdings in Hershey by 123.9% in the second quarter. Quarry LP now owns 300 shares of the company’s stock worth $55,000 after acquiring an additional 166 shares in the last quarter. 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.