Wells Fargo & Company Raises Hershey (NYSE:HSY) Price Target to $157.00

Key Points

• Wells Fargo & Company has raised the price target for Hershey (NYSE: HSY) from $154.00 to $157.00, while maintaining an "underweight" rating, indicating a potential downside from the stock's previous close.
• Despite the price target increase from Wells Fargo, bank analysts' consensus suggests a "Reduce" rating for Hershey, with a consensus price target of $174.05.
• Insider trading has been notable, with CEO Michele Buck and CFO Steven Voskuil selling shares, collectively amounting to over $4 million, indicating some reduction in their personal stake in the company.

Hershey (NYSE:HSY - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $154.00 to $157.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 18.15% from the stock's previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. began coverage on Hershey in a report on Wednesday, August 20th. They set a "neutral" rating and a $187.00 target price on the stock. Piper Sandler boosted their target price on Hershey from $160.00 to $167.00 and gave the stock an "underweight" rating in a report on Tuesday, September 9th. DA Davidson boosted their price objective on shares of Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Bank of America upped their target price on shares of Hershey from $175.00 to $208.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Barclays boosted their target price on Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $174.05.

Hershey Trading Up 0.5%

Shares of NYSE HSY opened at $191.81 on Thursday. 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 stock's 50 day simple moving average is $184.23 and its 200 day simple moving average is $172.47. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 4.61 and a beta of 0.27. Hershey has a 12-month low of $140.13 and a 12-month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company's quarterly revenue was up 26.0% compared to the same quarter last year. Hershey has set its FY 2025 guidance at 5.809-5.997 EPS. Equities research analysts expect that Hershey will post 6.12 EPS for the current year.

Insider Buying and Selling at Hershey

In other Hershey news, CEO Michele Buck sold 19,290 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $3,472,200.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares in the company, valued at $34,852,320. This trade represents a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer directly owned 61,319 shares of the company's stock, valued at approximately $11,037,420. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,627 shares of company stock valued at $16,043,435 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC raised its holdings in Hershey by 3.6% in the second quarter. Choreo LLC now owns 1,708 shares of the company's stock worth $283,000 after buying an additional 59 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Hershey by 4.9% during the second quarter. Fulton Bank N.A. now owns 1,312 shares of the company's stock valued at $218,000 after buying an additional 61 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Hershey by 2.4% during the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after acquiring an additional 62 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Hershey by 12.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 567 shares of the company's stock worth $94,000 after acquiring an additional 62 shares during the last quarter. Finally, Ignite Planners LLC lifted its position in Hershey by 5.2% in the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after acquiring an additional 63 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

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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