Hershey (NYSE:HSY) Upgraded to Neutral at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Hershey (NYSE:HSY) from a sell rating to a neutral rating in a report released on Wednesday, Benzinga reports. Goldman Sachs Group currently has $142.00 price target on the stock, up from their prior price target of $86.00.

HSY has been the topic of a number of other reports. ValuEngine cut Ultrapar Participacoes from a sell rating to a strong sell rating in a research note on Thursday, April 25th. BMO Capital Markets set a $32.00 price target on Axalta Coating Systems and gave the stock a hold rating in a research note on Friday, April 26th. Evercore ISI initiated coverage on Mondelez International in a research note on Tuesday, June 11th. They issued an outperform rating and a $62.00 price target on the stock. Bank of America decreased their price target on Canopy Growth from $80.00 to $75.00 and set a buy rating on the stock in a research note on Wednesday, June 19th. Finally, Barclays set a $46.00 price target on D. R. Horton and gave the stock a buy rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $125.14.

Shares of NYSE HSY opened at $145.18 on Wednesday. The stock has a market cap of $30.31 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.18 and a beta of 0.11. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 2.27. Hershey has a 1-year low of $90.52 and a 1-year high of $147.59. The firm’s 50-day moving average price is $137.27.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.11. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts anticipate that Hershey will post 5.7 earnings per share for the current fiscal year.

In other news, major shareholder Hershey Trust Co Trustee In Tr sold 617,613 shares of Hershey stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $128.09, for a total value of $79,110,049.17. Following the sale, the insider now directly owns 1,199,988 shares in the company, valued at approximately $153,706,462.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven E. Voskuil acquired 1,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $129.14 per share, for a total transaction of $129,140.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $129,140. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,100 shares of company stock worth $401,990 and sold 3,685,554 shares worth $465,392,278. 0.41% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of HSY. Norges Bank bought a new stake in shares of Hershey in the 4th quarter worth approximately $142,502,000. JPMorgan Chase & Co. grew its position in shares of Hershey by 365.2% in the 1st quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock worth $109,523,000 after buying an additional 748,757 shares during the last quarter. FMR LLC boosted its position in shares of Hershey by 9.8% during the fourth quarter. FMR LLC now owns 6,142,122 shares of the company’s stock valued at $658,314,000 after purchasing an additional 550,341 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Hershey by 236.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock valued at $92,368,000 after purchasing an additional 484,496 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Hershey by 75.8% during the first quarter. Bank of Montreal Can now owns 915,365 shares of the company’s stock valued at $105,111,000 after purchasing an additional 394,684 shares in the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Analyst Recommendations for Hershey (NYSE:HSY)

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