Hershey (NYSE:HSY) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Hershey (NYSE:HSY) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “equal weight” rating and a $183.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 9.33% from the stock’s current price.

Several other research firms have also commented on HSY. DA Davidson reduced their target price on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. TD Cowen reduced their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Mizuho reduced their target price on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, February 7th. Five analysts have rated the stock with a sell rating and seventeen have given a hold rating to the stock. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus target price of $164.67.

Hershey Price Performance

Shares of NYSE:HSY opened at $167.38 on Monday. The company has a 50 day moving average of $162.61 and a 200 day moving average of $174.80. The stock has a market cap of $33.88 billion, a P/E ratio of 15.36, a P/E/G ratio of 5.90 and a beta of 0.32. Hershey has a 12 month low of $140.13 and a 12 month high of $211.92. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, sell-side analysts forecast that Hershey will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Hershey

Several hedge funds have recently modified their holdings of HSY. Intech Investment Management LLC lifted its holdings in shares of Hershey by 73.6% in the third quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock worth $2,159,000 after buying an additional 4,772 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Hershey in the third quarter worth $334,000. Nwam LLC purchased a new position in shares of Hershey in the third quarter worth $329,000. Cerity Partners LLC lifted its holdings in shares of Hershey by 63.2% in the third quarter. Cerity Partners LLC now owns 45,606 shares of the company’s stock worth $8,747,000 after buying an additional 17,654 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Hershey by 1.0% in the third quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock worth $1,563,000 after buying an additional 80 shares in the last quarter. 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.