Piper Sandler Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price objective dropped by investment analysts at Piper Sandler from $168.00 to $153.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 0.56% from the stock’s current price.

HSY has been the topic of several other research reports. Barclays lowered their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday. TD Cowen reduced their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $179.89.

Hershey Stock Up 0.3 %

Shares of NYSE HSY traded up $0.40 during midday trading on Thursday, hitting $152.15. 415,766 shares of the company’s stock were exchanged, compared to its average volume of 1,919,729. The firm’s fifty day simple moving average is $173.19 and its 200-day simple moving average is $185.04. Hershey has a twelve month low of $150.31 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market cap of $30.79 billion, a PE ratio of 17.53, a P/E/G ratio of 4.31 and a beta of 0.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY raised its stake in shares of Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after acquiring an additional 58 shares during the period. Brighton Jones LLC increased its holdings in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Hershey by 10.4% in the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock valued at $119,000 after purchasing an additional 61 shares during the period. Park Avenue Securities LLC boosted its position in shares of Hershey by 1.1% in the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after buying an additional 62 shares during the period. Finally, Salomon & Ludwin LLC raised its holdings in shares of Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

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.