Barclays Issues Positive Forecast for Hershey (NYSE:HSY) Stock Price

Key Points

• Barclays has increased its target price for Hershey stock from $165.00 to $190.00, maintaining an "equal weight" rating, indicating a potential upside of 0.84% from the current price.
• Several analysts have mixed opinions on Hershey, with Royal Bank of Canada lowering their price target and Wall Street Zen downgrading the stock, while the consensus rating remains "Hold" with an average target price of $168.37.
• Hershey's stock increased by 1.2% to $188.41, and the company reported better-than-expected quarterly earnings of $1.21 per share, surpassing the consensus estimate of $0.98.

Hershey (NYSE:HSY - Get Free Report) had its target price hoisted by investment analysts at Barclays from $165.00 to $190.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 0.84% from the stock's current price.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada lowered their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Hershey from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Citigroup dropped their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Mizuho upped their price objective on shares of Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, DA Davidson raised their price target on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $168.37.

Hershey Stock Up 1.2%

Shares of NYSE:HSY traded up $2.28 during trading on Friday, reaching $188.41. 91,093 shares of the company traded hands, compared to its average volume of 1,865,333. The firm has a market cap of $38.17 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 4.56 and a beta of 0.30. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. Hershey has a 1-year low of $140.13 and a 1-year high of $208.03. The firm has a fifty day simple moving average of $169.92 and a 200 day simple moving average of $165.88.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. Analysts anticipate that Hershey will post 6.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the completion of the sale, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James Turoff sold 1,300 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $227,500.00. Following the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock worth $20,931,348 in the last three months. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Hershey

Large investors have recently made changes to their positions in the company. Kennon Green & Company LLC raised its position in shares of Hershey by 33.3% during the first quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after purchasing an additional 10,784 shares during the period. William Allan Corp lifted its position in shares of Hershey by 173.1% during the 1st quarter. William Allan Corp now owns 18,593 shares of the company's stock worth $3,180,000 after buying an additional 11,785 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Hershey by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after buying an additional 2,757 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Hershey by 8.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock valued at $3,186,000 after buying an additional 1,390 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Hershey by 8.1% in the first quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock valued at $3,617,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors 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.

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