Hershey (NYSE:HSY) Rating Increased to Hold at DA Davidson

Hershey (NYSE:HSY) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a report released on Monday,Zacks.com reports.

HSY has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on Hershey from $220.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, March 30th. BTIG Research started coverage on Hershey in a research note on Monday, April 13th. They set a “neutral” rating for the company. Mizuho decreased their price objective on shares of Hershey from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 20th. Finally, Barclays lowered their price objective on shares of Hershey from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $217.50.

Hershey Price Performance

Shares of HSY stock traded up $1.84 during midday trading on Monday, reaching $179.35. 136,625 shares of the company traded hands, compared to its average volume of 2,046,001. The firm’s 50 day simple moving average is $184.74 and its two-hundred day simple moving average is $198.02. The firm has a market cap of $36.38 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey has a 1-year low of $160.07 and a 1-year high of $239.48.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the firm posted $2.09 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Hershey will post 8.43 EPS for the current fiscal year.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HSY. Bard Associates Inc. purchased a new position in shares of Hershey during the 4th quarter worth $26,000. Reflection Asset Management purchased a new stake in shares of Hershey in the fourth quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in shares of Hershey in the third quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new position in Hershey in the fourth quarter valued at $27,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Hershey in the first quarter valued at $27,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Company Profile

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.