Hershey (NYSE:HSY) Price Target Lowered to $140.00 at Mizuho

Hershey (NYSE:HSY) had its price target decreased by Mizuho from $170.00 to $140.00 in a note issued to investors on Wednesday. Mizuho’s target price suggests a potential downside of 3.57% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen reduced their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their price target for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, Barclays cut their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Seven analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus price target of $167.10.

Hershey Trading Up 0.3 %

NYSE:HSY traded up $0.44 on Wednesday, hitting $145.18. 1,910,784 shares of the stock were exchanged, compared to its average volume of 1,910,946. The company’s 50-day moving average price is $165.80 and its 200 day moving average price is $181.22. Hershey has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market capitalization of $29.38 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 4.30 and a beta of 0.37.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several large investors have recently made changes to their positions in HSY. International Assets Investment Management LLC lifted its position in shares of Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares in the last quarter. State Street Corp lifted its position in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after acquiring an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after acquiring an additional 109,336 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Company Profile

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.