Hershey (NYSE:HSY) Price Target Raised to $189.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Hershey from $187.00 to $189.00, indicating a potential upside of 1.67% from its current price, while maintaining a "neutral" rating.
• Other analysts have varying ratings and price targets for Hershey, with Barclays suggesting a target of $190.00 and DA Davidson setting it at $188.00, reflecting mixed sentiment in the market.
• The company's recent quarterly earnings reported a revenue increase of 26.0% year-over-year, surpassing analysts' expectations with earnings per share of $1.21.

Hershey (NYSE:HSY - Get Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $187.00 to $189.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 1.67% from the company's current price.

A number of other analysts also recently weighed in on HSY. Wells Fargo & Company increased their price target on shares of Hershey from $154.00 to $157.00 and gave the company an "underweight" rating in a research report on Thursday, September 25th. DA Davidson increased their target price on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hershey in a research note on Wednesday, October 8th. Barclays increased their price objective on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, BNP Paribas Exane raised Hershey from a "neutral" rating to an "outperform" rating in a report on Monday, September 15th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Hershey has a consensus rating of "Reduce" and a consensus price target of $176.21.

Hershey Trading Down 1.0%

Shares of NYSE:HSY traded down $1.84 during mid-day trading on Monday, reaching $185.90. The stock had a trading volume of 300,556 shares, compared to its average volume of 1,744,043. The firm has a market cap of $37.69 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 4.53 and a beta of 0.26. The firm has a 50 day simple moving average of $186.28 and a two-hundred day simple moving average of $174.88. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. Hershey has a twelve month low of $140.13 and a twelve month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly 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. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. Hershey's revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, research analysts predict that Hershey will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $189.12, for a total value of $283,680.00. Following the transaction, the chief financial officer directly owned 58,319 shares of the company's stock, valued at $11,029,289.28. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total value of $3,742,260.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares in the company, valued at approximately $37,563,056. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,080 shares of company stock worth $7,594,590. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Hershey

A number of hedge funds and other institutional investors have recently made changes to their positions in HSY. HM Payson & Co. lifted its stake in Hershey by 18.4% in the third quarter. HM Payson & Co. now owns 4,063 shares of the company's stock valued at $760,000 after buying an additional 631 shares during the period. Old North State Wealth Management LLC lifted its stake in Hershey by 3.7% in the third quarter. Old North State Wealth Management LLC now owns 4,768 shares of the company's stock valued at $894,000 after buying an additional 170 shares during the period. Perigon Wealth Management LLC lifted its stake in Hershey by 34.4% in the third quarter. Perigon Wealth Management LLC now owns 2,615 shares of the company's stock valued at $489,000 after buying an additional 669 shares during the period. Sowell Financial Services LLC lifted its stake in Hershey by 8.0% in the third quarter. Sowell Financial Services LLC now owns 15,387 shares of the company's stock valued at $2,878,000 after buying an additional 1,146 shares during the period. Finally, Sapient Capital LLC acquired a new position in Hershey in the third quarter valued at approximately $201,000. 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.

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