Hershey (NYSE:HSY) Stock Rating Upgraded by The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Hershey's stock rating from "sell" to "buy," raising its price target from $170 to $222.00, indicating a potential upside of 19.66%.
• Several other analysts have also increased their price targets for Hershey, with the average target currently at $173.89, reflecting a mixed outlook with two "buy" ratings, fourteen "hold," and four "sell."
• Hershey recently reported quarterly earnings that exceeded expectations, with $1.21 earnings per share and revenue of $2.61 billion, a 26.0% increase year-over-year.

Hershey (NYSE:HSY - Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group from a "sell" rating to a "buy" rating in a research note issued on Tuesday, Marketbeat reports. The firm currently has a $222.00 price target on the stock, up from their prior price target of $170.00. The Goldman Sachs Group's target price points to a potential upside of 19.66% from the company's previous close.

A number of other equities analysts also recently weighed in on HSY. Stifel Nicolaus upped their price target on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Piper Sandler lifted their price target on Hershey from $160.00 to $167.00 and gave the company an "underweight" rating in a research note on Tuesday, September 9th. Mizuho boosted their price target on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. DA Davidson upped their price target on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, BNP Paribas Exane upgraded shares of Hershey from a "neutral" rating to an "outperform" rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $173.89.

Hershey Price Performance

HSY stock opened at $185.53 on Tuesday. The firm has a market capitalization of $37.61 billion, a PE ratio of 24.64, a P/E/G ratio of 4.47 and a beta of 0.27. Hershey has a one year low of $140.13 and a one year high of $208.03. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $180.55 and a two-hundred day moving average of $171.79.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company's revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. On average, analysts forecast that Hershey will post 6.12 earnings per share for the current year.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $3,472,200.00. Following the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $34,852,320. The trade was a 9.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider directly owned 38,068 shares in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,127 shares of company stock valued at $15,759,755. Company insiders own 0.28% of the company's stock.

Institutional Trading of Hershey

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in shares of Hershey by 23.4% during the 2nd quarter. Osaic Holdings Inc. now owns 59,095 shares of the company's stock worth $9,818,000 after acquiring an additional 11,223 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Hershey by 15.1% during the second quarter. Centaurus Financial Inc. now owns 799 shares of the company's stock worth $133,000 after purchasing an additional 105 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Hershey by 8.6% in the second quarter. Orion Porfolio Solutions LLC now owns 27,603 shares of the company's stock valued at $4,581,000 after acquiring an additional 2,183 shares during the last quarter. Provident Investment Management Inc. boosted its holdings in Hershey by 1.8% in the second quarter. Provident Investment Management Inc. now owns 5,470 shares of the company's stock valued at $908,000 after acquiring an additional 95 shares during the last quarter. Finally, Silverlake Wealth Management LLC boosted its holdings in shares of Hershey by 8.1% during the 2nd quarter. Silverlake Wealth Management LLC now owns 2,018 shares of the company's stock worth $335,000 after buying an additional 152 shares in the last quarter. 57.96% of the stock is currently 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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