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.
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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