UBS Group Has Lowered Expectations for Hershey (NYSE:HSY) Stock Price

Key Points

• UBS Group cut its price target on Hershey from $200 to $190 while keeping a neutral rating, implying about 8.24% upside from the current share price.
• Hershey shares were up 3.1% to $175.54 in Thursday trading, even after the lower target. The stock remains well below its 52-week high of $239.48.
• Analyst sentiment is still cautious overall: Hershey has a Hold consensus rating and a consensus price target of $212.56, with more analysts rating it Hold than Buy.

Hershey (NYSE:HSY - Get Free Report) had its price target cut by analysts at UBS Group from $200.00 to $190.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 8.24% from the stock's current price.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Hershey from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, June 26th. Stifel Nicolaus reduced their target price on shares of Hershey from $230.00 to $215.00 and set a "hold" rating for the company in a report on Tuesday, April 21st. DA Davidson raised Hershey to a "hold" rating in a report on Monday, July 6th. Mizuho lowered their price target on shares of Hershey from $195.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Hershey from $212.00 to $200.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of "Hold" and a consensus target price of $212.56.

Hershey Stock Up 3.1%

Shares of HSY traded up $5.27 during mid-day trading on Thursday, hitting $175.54. 558,261 shares of the company traded hands, compared to its average volume of 2,043,866. The company has a market capitalization of $35.61 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 1.03 and a beta of 0.11. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $182.75 and a 200 day moving average of $197.38. Hershey has a 1-year low of $161.43 and a 1-year high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. Hershey's revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Hershey will post 8.42 EPS for the current year.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer directly owned 54,695 shares in the company, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Hershey

Large investors have recently modified their holdings of the business. Butensky & Cohen Financial Security Inc. increased its position in shares of Hershey by 4.0% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 27,128 shares of the company's stock worth $4,760,000 after purchasing an additional 1,053 shares during the last quarter. Tema ETFs LLC increased its position in shares of Hershey by 47.8% during the second quarter. Tema ETFs LLC now owns 3,275 shares of the company's stock valued at $575,000 after acquiring an additional 1,059 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Hershey by 20.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 87,339 shares of the company's stock valued at $15,324,000 after acquiring an additional 14,836 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Hershey by 341.6% in the 2nd quarter. Fulton Bank N.A. now owns 7,119 shares of the company's stock worth $1,249,000 after acquiring an additional 5,507 shares during the last quarter. Finally, Revolve Wealth Partners LLC purchased a new position in shares of Hershey during the 2nd quarter worth approximately $336,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Company Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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