Hershey (NYSE:HSY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

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Hershey (NYSE:HSY - Get Free Report) had its price objective increased by research analysts at Piper Sandler from $145.00 to $160.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Piper Sandler's price objective points to a potential downside of 15.21% from the company's current price.

Several other equities research analysts also recently commented on the company. Mizuho raised their target price on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Stifel Nicolaus raised their target price on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday. DA Davidson raised their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Bank of America lifted their price objective on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat.com, Hershey has an average rating of "Hold" and an average target price of $168.37.

Hershey Price Performance

Shares of HSY traded up $2.57 during trading hours on Thursday, reaching $188.70. 2,072,840 shares of the company traded hands, compared to its average volume of 1,902,214. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $38.23 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 4.49 and a beta of 0.30. Hershey has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The stock has a fifty day simple moving average of $170.58 and a 200 day simple moving average of $166.11.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.27 EPS. The firm's quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts predict that Hershey will post 6.12 EPS for the current fiscal year.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares in the company, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction on Monday, July 21st. The stock was 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 directly owned 61,319 shares in the company, valued at $11,037,420. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,311 shares of company stock worth $20,931,348 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hershey

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag & Caldwell LLC acquired a new stake in shares of Hershey during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in Hershey during the fourth quarter valued at $25,000. Mpwm Advisory Solutions LLC acquired a new position in Hershey during the fourth quarter valued at $28,000. Proffitt & Goodson Inc. acquired a new position in Hershey during the first quarter valued at $28,000. Finally, Trust Co. of Toledo NA OH acquired a new position in Hershey during the second quarter valued at $28,000. 57.96% of the stock is owned by institutional investors and hedge funds.

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.