Hershey (NYSE:HSY) Price Target Lowered to $191.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut Hershey’s price target from $204 to $191 and kept a neutral rating on the stock, implying about 8.9% upside from the current price.
• Other analysts remain mixed on HSY, with several recent target cuts across firms; the stock’s consensus rating is Hold and the average target price is $214.06.
• Hershey shares rose 1.0% to $175.42, while the company recently reported stronger-than-expected quarterly results, including $2.35 EPS versus the $2.04 estimate and $3.10 billion in revenue.

Hershey (NYSE:HSY - Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $204.00 to $191.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 8.88% from the company's current price.

Several other equities research analysts have also issued reports on HSY. DA Davidson raised shares of Hershey to a "hold" rating in a research report on Monday, July 6th. Barclays cut their price objective on shares of Hershey from $225.00 to $220.00 and set an "equal weight" rating on the stock in a report on Monday, May 4th. Morgan Stanley lowered their price objective on Hershey from $247.00 to $227.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Mizuho decreased their price objective on shares of Hershey from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, May 20th. Finally, Piper Sandler lowered their target price on shares of Hershey from $249.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $214.06.

Hershey Stock Up 1.0%

Shares of NYSE HSY traded up $1.76 during mid-day trading on Monday, hitting $175.42. The company had a trading volume of 803,253 shares, compared to its average volume of 2,057,006. Hershey has a 1-year low of $161.29 and a 1-year high of $239.48. The company has a market capitalization of $35.58 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.05 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. The business's 50-day simple moving average is $183.55 and its 200 day simple moving average is $197.62.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. Hershey's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.09 EPS. On average, analysts predict that Hershey will post 8.43 earnings per share for the current year.

Insider Buying and Selling at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the sale, the chief financial officer owned 54,695 shares of the company's stock, valued at approximately $9,485,753.85. This trade represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new stake in shares of Hershey in the first quarter worth approximately $27,000. JPL Wealth Management LLC bought a new stake in shares of Hershey during the 3rd quarter valued at $26,000. Reflection Asset Management purchased a new stake in Hershey in the 4th quarter worth approximately $26,000. Bard Associates Inc. bought a new position in shares of Hershey in the fourth quarter worth approximately $26,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Hershey during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 57.96% of the company's stock.

About Hershey

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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