Hershey (NYSE:HSY) Downgraded to Underweight Rating by Piper Sandler

Hershey (NYSE:HSY) was downgraded by stock analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a report issued on Friday, Marketbeat.com reports. They presently have a $120.00 price target on the stock, down from their prior price target of $153.00. Piper Sandler’s price target points to a potential downside of 21.05% from the stock’s previous close.

Several other equities analysts have also commented on HSY. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research note on Tuesday, December 10th. Mizuho decreased their price target on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Finally, Jefferies Financial Group lowered their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. Seven analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $170.05.

Hershey Price Performance

HSY opened at $152.00 on Friday. The stock has a market capitalization of $30.76 billion, a P/E ratio of 17.51, a PEG ratio of 4.28 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. Hershey has a 12-month low of $147.60 and a 12-month high of $211.92. The stock has a 50-day moving average price of $167.90 and a 200-day moving average price of $182.50.

Hedge Funds Weigh In On Hershey

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Hershey in the third quarter worth $1,337,000. Principal Financial Group Inc. lifted its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Woodstock Corp grew its stake in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,780 shares during the period. HighTower Advisors LLC raised its holdings in shares of Hershey by 61.9% during 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. Finally, Pensionfund Sabic boosted its holdings in Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,000 shares during 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.