Mizuho Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY - Get Free Report) had its price objective reduced by stock analysts at Mizuho from $167.00 to $155.00 in a report released on Wednesday, MarketBeat reports. The brokerage presently has a "neutral" rating on the stock. Mizuho's price target suggests a potential downside of 3.96% from the stock's previous close.

HSY has been the topic of a number of other reports. Wells Fargo & Company raised their price objective on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Stifel Nicolaus dropped their price objective on shares of Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a research note on Friday, February 7th. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Morgan Stanley dropped their price objective on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays raised their price objective on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, Hershey presently has a consensus rating of "Hold" and an average target price of $162.15.

Hershey Stock Up 3.5%

Shares of Hershey stock traded up $5.50 during trading on Wednesday, reaching $161.40. 2,388,019 shares of the company traded hands, compared to its average volume of 1,790,227. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. Hershey has a 1-year low of $140.13 and a 1-year high of $208.03. The company has a 50 day moving average price of $164.04 and a 200-day moving average price of $166.51. The firm has a market capitalization of $32.70 billion, a PE ratio of 14.81, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company earned $3.07 EPS. Hershey's quarterly revenue was down 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Hershey will post 6.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer now owns 2,994 shares in the company, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HSY. Montag & Caldwell LLC bought a new position in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the fourth quarter worth about $28,000. Finally, Proffitt & Goodson Inc. bought a new position in Hershey during the first quarter worth about $28,000. 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.