Hershey (NYSE:HSY) Price Target Raised to $208.00

Key Points

• Bank of America has raised its price target for Hershey from $175.00 to $208.00, indicating a potential upside of 12.02% from the company's previous close, while maintaining a "neutral" rating.
• Other analysts have mixed views, with UBS lowering its target to $170.00 and DA Davidson increasing it slightly to $163.00, leading to a consensus hold rating and an average price target of $165.11.
• Hershey reported a strong quarterly performance, with a net margin of 15.32% and revenue growth of 26.0% year-over-year, exceeding earnings expectations.

Hershey (NYSE:HSY - Get Free Report) had its price target boosted by equities researchers at Bank of America from $175.00 to $208.00 in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price would suggest a potential upside of 10.23% from the company's current price.

HSY has been the topic of several other research reports. Stifel Nicolaus boosted their price objective on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday. Barclays upped their target price on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. 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, July 28th. Morgan Stanley raised their price objective on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, UBS Group reduced their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $168.37.

Hershey Stock Performance

Shares of NYSE HSY traded up $2.57 during trading hours on Thursday, hitting $188.70. 2,072,840 shares of the stock were exchanged, compared to its average volume of 1,902,214. Hershey has a one year low of $140.13 and a one year high of $208.03. The company's 50 day moving average is $170.58 and its 200 day moving average is $166.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a market capitalization of $38.23 billion, a P/E ratio of 25.06, a P/E/G ratio of 4.56 and a beta of 0.27.

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, beating the consensus estimate of $0.98 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The firm's revenue was up 26.0% compared to the same quarter last year. During the same period last year, the business posted $1.27 earnings per share. On average, research analysts expect that Hershey will post 6.12 EPS for the current year.

Insider Buying and Selling

In other Hershey news, insider Rohit Grover sold 1,334 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $240,120.00. Following the completion of the transaction, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at $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 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hershey

Hedge funds have recently made changes to their positions in the business. Montag & Caldwell LLC acquired a new position in shares of Hershey during the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey during the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC acquired a new stake in Hershey during the 4th quarter valued at $28,000. Proffitt & Goodson Inc. acquired a new stake in Hershey during the 1st quarter valued at $28,000. Finally, Trust Co. of Toledo NA OH bought a new position in Hershey during the second quarter worth $28,000. 57.96% of the stock is owned by institutional investors.

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.