Evercore ISI Boosts Hershey (NYSE:HSY) Price Target to $265.00 – MarketBeat

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Hershey (NYSE:HSY – Get Rating) had its price target increased by equities research analysts at Evercore ISI from $255.00 to $265.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm currently has an “inline” rating on the stock. Evercore ISI’s target price would suggest a potential downside of 2.08% from the company’s previous close.
HSY has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $251.00 to $264.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group raised their price objective on Hershey from $255.00 to $277.00 in a report on Thursday, February 2nd. Mizuho raised their price objective on Hershey from $222.00 to $235.00 and gave the company a “neutral” rating in a report on Friday, March 24th. Jefferies Financial Group raised their price objective on Hershey from $260.00 to $285.00 and gave the company a “hold” rating in a report on Friday. Finally, Morgan Stanley raised their price objective on Hershey from $246.00 to $256.00 and gave the company an “equal weight” rating in a report on Tuesday, April 11th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $260.56.

Hershey Price Performance

Shares of NYSE:HSY traded down $2.70 during midday trading on Friday, reaching $270.63. 317,512 shares of the company’s stock traded hands, compared to its average volume of 1,029,416. Hershey has a 1 year low of $201.42 and a 1 year high of $273.42. The company has a market cap of $55.22 billion, a P/E ratio of 33.98, a PEG ratio of 3.64 and a beta of 0.31. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.80. The company has a fifty day simple moving average of $249.38 and a two-hundred day simple moving average of $236.69.
Hershey (NYSE:HSY – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.29. Hershey had a return on equity of 57.76% and a net margin of 15.79%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the firm posted $2.53 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Hershey will post 9.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 109 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $243.23, for a total transaction of $26,512.07. Following the completion of the sale, the chief accounting officer now directly owns 2,450 shares of the company’s stock, valued at approximately $595,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 109 shares of Hershey stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $243.23, for a total value of $26,512.07. Following the completion of the transaction, the chief accounting officer now directly owns 2,450 shares of the company’s stock, valued at approximately $595,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rohit Grover sold 1,180 shares of Hershey stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $243.79, for a total value of $287,672.20. Following the completion of the transaction, the insider now directly owns 18,999 shares of the company’s stock, valued at $4,631,766.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,265 shares of company stock valued at $13,371,072. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently bought and sold shares of HSY. Blair William & Co. IL grew its position in Hershey by 3.1% in the 1st quarter. Blair William & Co. IL now owns 30,767 shares of the company’s stock valued at $6,665,000 after acquiring an additional 916 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Hershey in the 1st quarter valued at about $238,000. Sequoia Financial Advisors LLC boosted its stake in shares of Hershey by 28.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $339,000 after buying an additional 350 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hershey by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock valued at $3,045,383,000 after buying an additional 216,715 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of Hershey by 10.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company’s stock valued at $6,972,000 after buying an additional 3,129 shares during the period. 54.17% of the stock is owned by institutional investors and hedge funds.

Hershey Company Profile

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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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