Hershey (NYSE:HSY) Raised to "Hold" at Wall Street Zen

Key Points

• Hershey has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with an average consensus price target of $168.37.
• Despite a recent upgrade, several brokerages have issued neutral ratings and adjusted target prices for the stock, including UBS Group which lowered its target from $175 to $170.
• Hershey's stock rose 1.4% recently, with the company reporting a quarterly revenue of $2.61 billion, surpassing analysts' expectations.

Hershey (NYSE:HSY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other brokerages have also recently weighed in on HSY. UBS Group decreased their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Mizuho raised their price objective on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Citigroup dropped their target price on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Piper Sandler increased their target price on shares of Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research report on Thursday. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $168.37.

Hershey Stock Up 1.4%

HSY stock opened at $188.70 on Friday. The firm's 50-day moving average is $170.58 and its two-hundred day moving average is $166.11. The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 4.49 and a beta of 0.30. Hershey has a 52 week low of $140.13 and a 52 week high of $208.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

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

Insider Activity

In other Hershey news, insider Rohit Grover sold 1,334 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the transaction, the chief executive officer owned 193,624 shares in the company, valued at approximately $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock valued at $20,931,348 in the last three months. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Montag & Caldwell LLC bought a new stake in shares of Hershey in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in Hershey in the fourth quarter valued at approximately $25,000. Mpwm Advisory Solutions LLC bought a new stake in Hershey in the fourth quarter worth approximately $28,000. Proffitt & Goodson Inc. acquired a new position in shares of Hershey during the 1st quarter worth $28,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Hershey during the 2nd quarter worth $28,000. 57.96% of the stock is owned by institutional investors and hedge funds.

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.

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