Bank of America Reaffirms “Neutral” Rating for Hershey (NYSE:HSY)

Hershey (NYSE:HSY)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $180.00 price objective on the stock. Bank of America‘s target price points to a potential downside of 1.64% from the company’s current price.

HSY has been the topic of a number of other reports. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Stifel Nicolaus decreased their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 price target on shares of Hershey in a report on Tuesday. Mizuho decreased their price objective on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.17.

Hershey Price Performance

Shares of NYSE:HSY opened at $183.01 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $179.93 and a 200 day moving average price of $188.41. Hershey has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a market cap of $37.03 billion, a P/E ratio of 21.08, a PEG ratio of 4.24 and a beta of 0.37.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Hershey in the 3rd quarter valued at $1,337,000. HighTower Advisors LLC increased its stake in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after purchasing an additional 45,936 shares during the last quarter. LPL Financial LLC lifted its position in Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after buying an additional 29,246 shares during the period. MAI Capital Management boosted its stake in Hershey by 11.6% in the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock worth $23,620,000 after buying an additional 12,832 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Hershey by 171.8% in the 3rd quarter. IHT Wealth Management LLC now owns 11,140 shares of the company’s stock valued at $2,137,000 after buying an additional 7,042 shares during the period. Hedge funds and other institutional investors 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.