DA Davidson Issues Positive Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its target price upped by equities researchers at DA Davidson from $185.00 to $207.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 6.30% from the stock’s previous close.

Several other research firms have also recently commented on HSY. Argus upgraded shares of Hershey to a “hold” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their price objective on Hershey from $187.00 to $189.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Stifel Nicolaus lifted their price target on Hershey from $185.00 to $195.00 and gave the company a “hold” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $188.00 target price on shares of Hershey in a report on Thursday. Finally, Piper Sandler set a $213.00 target price on shares of Hershey and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $192.95.

Hershey Stock Performance

Shares of Hershey stock opened at $194.74 on Monday. The firm’s 50 day moving average is $187.24 and its two-hundred day moving average is $184.71. Hershey has a 52 week low of $140.13 and a 52 week high of $201.86. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $39.49 billion, a P/E ratio of 29.11 and a beta of 0.18.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. Hershey had a net margin of 11.84% and a return on equity of 32.08%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts forecast that Hershey will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Hershey news, CEO Kirk Tanner purchased 2,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $185.46 per share, with a total value of $370,920.00. Following the completion of the transaction, the chief executive officer owned 47,860 shares in the company, valued at $8,876,115.60. The trade was a 4.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stacy Taffet purchased 200 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $186.19 per share, for a total transaction of $37,238.00. Following the purchase, the insider owned 9,371 shares in the company, valued at approximately $1,744,786.49. The trade was a 2.18% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 6,000 shares of company stock valued at $1,119,450. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Hershey

Hedge funds have recently modified their holdings of the company. ARS Wealth Advisors Group LLC lifted its stake in shares of Hershey by 1.8% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 3,070 shares of the company’s stock valued at $559,000 after buying an additional 54 shares in the last quarter. Abacus Planning Group Inc. lifted its stake in shares of Hershey by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 1,407 shares of the company’s stock valued at $256,000 after acquiring an additional 54 shares during the last quarter. BSW Wealth Partners boosted its holdings in shares of Hershey by 5.1% during the fourth quarter. BSW Wealth Partners now owns 1,132 shares of the company’s stock worth $206,000 after purchasing an additional 55 shares during the period. Choreo LLC increased its position in shares of Hershey by 3.6% during the second quarter. Choreo LLC now owns 1,708 shares of the company’s stock valued at $283,000 after buying an additional 59 shares during the period. Finally, Bellevue Asset Management LLC lifted its position in Hershey by 13.5% during the third quarter. Bellevue Asset Management LLC now owns 514 shares of the company’s stock valued at $96,000 after buying an additional 61 shares during the period. Institutional investors own 57.96% of the company’s stock.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.