Susquehanna Bancshares set a $113.00 target price on Hershey (NYSE:HSY) in a report released on Monday, December 18th. The firm currently has a hold rating on the stock.
HSY has been the subject of a number of other research reports. Zacks Investment Research upgraded Hershey from a hold rating to a buy rating and set a $122.00 price objective for the company in a research note on Monday, October 2nd. UBS Group decreased their price target on Hershey from $110.00 to $106.00 and set a neutral rating for the company in a research note on Friday, October 27th. BMO Capital Markets restated a hold rating and issued a $105.00 price target on shares of Hershey in a research note on Friday, October 27th. Finally, Citigroup upped their price objective on Hershey from $126.00 to $130.00 and gave the company a buy rating in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $114.02.
Hershey (NYSE HSY) traded down $0.73 during midday trading on Monday, hitting $110.09. The company had a trading volume of 764,272 shares, compared to its average volume of 829,896. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. Hershey has a one year low of $101.61 and a one year high of $116.49. The company has a market capitalization of $23,200.00, a price-to-earnings ratio of 32.76, a PEG ratio of 2.82 and a beta of 0.38.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.04. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. Hershey had a return on equity of 124.06% and a net margin of 9.52%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. research analysts predict that Hershey will post 4.8 EPS for the current year.
Hershey announced that its board has initiated a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, insider Michele Buck sold 400 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the transaction, the insider now owns 164,897 shares of the company’s stock, valued at $17,808,876. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $110.26, for a total value of $121,286.00. The disclosure for this sale can be found here. Insiders have sold 17,817 shares of company stock valued at $1,932,295 in the last three months. 0.92% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Franklin Street Advisors Inc. NC raised its position in Hershey by 5.8% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 142,658 shares of the company’s stock valued at $16,193,000 after purchasing an additional 7,819 shares during the period. Bath Savings Trust Co raised its holdings in shares of Hershey by 10.4% in the fourth quarter. Bath Savings Trust Co now owns 19,851 shares of the company’s stock worth $2,253,000 after buying an additional 1,863 shares during the period. Hutchens Investment Management Inc raised its holdings in shares of Hershey by 4.3% in the fourth quarter. Hutchens Investment Management Inc now owns 17,238 shares of the company’s stock worth $1,956,000 after buying an additional 711 shares during the period. Atlantic Trust Group LLC raised its holdings in shares of Hershey by 40.5% in the third quarter. Atlantic Trust Group LLC now owns 19,603 shares of the company’s stock worth $2,140,000 after buying an additional 5,655 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Hershey by 5.8% in the third quarter. Parametric Portfolio Associates LLC now owns 450,350 shares of the company’s stock worth $49,165,000 after buying an additional 24,726 shares during the period. Institutional investors and hedge funds own 51.24% of the company’s stock.
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The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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