Sanford C. Bernstein Lowers Hershey (NYSE:HSY) Price Target to $230.00

Hershey (NYSE:HSY) had its price target lowered by equities researchers at Sanford C. Bernstein from $237.00 to $230.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target suggests a potential upside of 18.83% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Edward Jones reissued a “hold” rating on shares of Hershey in a research report on Friday, April 19th. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research note on Tuesday, March 26th. Barclays decreased their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Bank of America decreased their price objective on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $208.78.

Hershey Trading Up 1.9 %

Shares of Hershey stock traded up $3.59 during mid-day trading on Wednesday, hitting $193.56. 887,033 shares of the stock were exchanged, compared to its average volume of 1,844,536. Hershey has a twelve month low of $178.82 and a twelve month high of $248.93. The stock has a market capitalization of $39.14 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 4.23 and a beta of 0.36. The company has a 50-day simple moving average of $192.70 and a 200 day simple moving average of $192.43. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last released its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the company earned $2.96 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts forecast that Hershey will post 9.59 EPS for the current year.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the completion of the transaction, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 4,500 shares of company stock worth $859,950. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Hershey by 7.7% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company’s stock valued at $141,000 after buying an additional 54 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Hershey by 20.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after buying an additional 54 shares during the period. Sound View Wealth Advisors Group LLC lifted its holdings in shares of Hershey by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock valued at $683,000 after purchasing an additional 55 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Hershey by 1.0% during the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock valued at $1,089,000 after purchasing an additional 57 shares in the last quarter. Finally, Mount Lucas Management LP lifted its stake in Hershey by 0.6% in the 4th quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock valued at $1,793,000 after acquiring an additional 57 shares in the last quarter. 57.96% of the stock is 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.