Hershey (NYSE:HSY) received a $108.00 price objective from equities researchers at Susquehanna Bancshares in a report released on Wednesday. The brokerage presently has a “hold” rating on the stock. Susquehanna Bancshares’ price target would suggest a potential downside of 0.33% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Citigroup raised their target price on shares of Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Zacks Investment Research raised shares of Hershey from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Monday, October 2nd. Sanford C. Bernstein set a $124.00 target price on shares of Hershey and gave the company a “buy” rating in a report on Tuesday, December 19th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $122.00 target price on shares of Hershey in a report on Friday, December 22nd. Finally, Berenberg Bank raised shares of Hershey from a “sell” rating to a “hold” rating and set a $90.00 target price on the stock in a report on Monday, December 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Hershey currently has an average rating of “Hold” and an average price target of $112.89.
Shares of Hershey (NYSE:HSY) traded up $0.07 on Wednesday, hitting $108.36. 163,745 shares of the stock traded hands, compared to its average volume of 890,150. The firm has a market capitalization of $22,860.00, a PE ratio of 32.25, a PEG ratio of 2.73 and a beta of 0.38. Hershey has a 1-year low of $101.61 and a 1-year high of $116.49. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55.
Hershey declared that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $108.00, for a total transaction of $43,200.00. Following the transaction, the insider now directly owns 164,897 shares in the company, valued at $17,808,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP D Michael Wege sold 15,517 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $108.18, for a total transaction of $1,678,629.06. The disclosure for this sale can be found here. Insiders sold 16,717 shares of company stock worth $1,811,009 over the last quarter. 0.92% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. WFG Advisors LP grew its position in shares of Hershey by 25.2% during the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after acquiring an additional 201 shares during the last quarter. Sun Life Financial INC grew its position in shares of Hershey by 12,637.5% during the second quarter. Sun Life Financial INC now owns 1,019 shares of the company’s stock worth $109,000 after acquiring an additional 1,011 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Hershey during the third quarter worth approximately $174,000. Douglas Lane & Associates LLC purchased a new position in shares of Hershey during the third quarter worth approximately $202,000. Finally, E&G Advisors LP purchased a new position in shares of Hershey during the third quarter worth approximately $218,000. Institutional investors and hedge funds own 51.26% of the company’s stock.
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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