Hershey Company (The) (HSY) Price Target Cut to $106.00

Hershey Company (The) (NYSE:HSY) had its price target cut by research analysts at UBS AG from $110.00 to $106.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the stock. UBS AG’s target price suggests a potential upside of 1.84% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup Inc. raised their price target on shares of Hershey Company (The) from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Hershey Company (The) in a report on Friday, July 28th. Sanford C. Bernstein raised shares of Hershey Company (The) from a “market perform” rating to an “outperform” rating and raised their price target for the company from $109.00 to $127.00 in a report on Thursday, August 17th. BidaskClub lowered shares of Hershey Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $114.00 price target on shares of Hershey Company (The) in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $112.33.

Hershey Company (HSY) traded up 1.18% during midday trading on Friday, hitting $104.08. 1,844,349 shares of the stock traded hands. The company’s 50-day moving average is $108.62 and its 200-day moving average is $108.44. The company has a market cap of $22.11 billion, a PE ratio of 33.25 and a beta of 0.39. Hershey Company has a one year low of $95.68 and a one year high of $116.49.

Hershey Company (The) (NYSE:HSY) last released its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. Hershey Company (The) had a net margin of 9.52% and a return on equity of 124.06%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. Equities research analysts expect that Hershey Company will post $4.81 EPS for the current fiscal year.

Hershey Company (The) declared that its board has initiated a share buyback program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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In other news, SVP D Michael Wege sold 1,100 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $110.26, for a total value of $121,286.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the transaction, the insider now owns 165,697 shares in the company, valued at $17,895,276. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,519,232 shares of company stock worth $479,154,674. Insiders own 0.92% of the company’s stock.

Several institutional investors have recently bought and sold shares of HSY. BlackRock Inc. lifted its position in Hershey Company (The) by 3,144.3% in the 1st quarter. BlackRock Inc. now owns 10,106,348 shares of the company’s stock valued at $1,104,118,000 after purchasing an additional 9,794,835 shares during the last quarter. Janus Henderson Group PLC lifted its position in Hershey Company (The) by 19,853.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock valued at $406,519,000 after purchasing an additional 3,767,172 shares during the last quarter. APG Asset Management N.V. lifted its position in Hershey Company (The) by 417.5% in the 3rd quarter. APG Asset Management N.V. now owns 1,297,179 shares of the company’s stock valued at $141,613,000 after purchasing an additional 1,046,500 shares during the last quarter. AJO LP lifted its position in Hershey Company (The) by 13,232.0% in the 2nd quarter. AJO LP now owns 747,924 shares of the company’s stock valued at $80,305,000 after purchasing an additional 742,314 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Hershey Company (The) by 60.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,699,400 shares of the company’s stock valued at $182,465,000 after purchasing an additional 639,400 shares during the last quarter. Institutional investors own 51.41% of the company’s stock.

Hershey Company (The) Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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