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

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

Other analysts have also issued reports about the stock. Redburn Atlantic began coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Jefferies Financial Group reduced their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Bernstein Bank reduced their target price on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Six analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.52.

Hershey Stock Performance

Shares of HSY opened at $154.98 on Monday. 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 has a 52 week low of $140.13 and a 52 week 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 business has a 50-day simple moving average of $164.38 and a two-hundred day simple moving average of $180.46.

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

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after buying an additional 247,675 shares during the period. Geode Capital Management LLC boosted its position in shares of Hershey by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after acquiring an additional 35,688 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after purchasing an additional 29,507 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

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.