Hershey’s (HSY) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Hershey (NYSE:HSY)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $183.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 4.32% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Mizuho reduced their target price on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $187.94.

Hershey Trading Down 1.2 %

Hershey stock traded down $2.38 during mid-day trading on Tuesday, hitting $191.27. The company’s stock had a trading volume of 758,250 shares, compared to its average volume of 1,775,167. Hershey has a 1 year low of $168.16 and a 1 year high of $211.92. The stock’s fifty day moving average is $180.67 and its two-hundred day moving average is $188.69. The firm has a market capitalization of $38.70 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new position in shares of Hershey during the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Hershey in the second quarter worth approximately $29,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Hershey in the third quarter worth approximately $46,000. 57.96% of the stock is currently 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.