Hershey (NYSE:HSY) Rating Lowered to Underweight at Morgan Stanley

Hershey (NYSE:HSYGet Free Report) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $183.00 target price on the stock, down from their previous target price of $191.00. Morgan Stanley’s price objective indicates a potential downside of 6.37% from the stock’s previous close.

Several other research firms have also recently weighed in on HSY. Barclays cut their target price on shares of Hershey from $212.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 16th. Wells Fargo & Company boosted their target price on Hershey from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday. Piper Sandler downgraded shares of Hershey from an “overweight” rating to a “neutral” rating and cut their price target for the company from $240.00 to $200.00 in a report on Wednesday, November 29th. Sanford C. Bernstein raised Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research note on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $213.00 price objective on shares of Hershey in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average price target of $227.86.

Check Out Our Latest Stock Report on Hershey

Hershey Stock Performance

Shares of HSY opened at $195.45 on Monday. The business has a 50-day simple moving average of $189.41 and a two-hundred day simple moving average of $199.04. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. Hershey has a 52 week low of $178.82 and a 52 week high of $276.88. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.63 and a beta of 0.36.

Hershey (NYSE:HSYGet Free Report) last released its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the firm posted $2.02 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect that Hershey will post 9.6 EPS for the current year.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the sale, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at $369,681.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the transaction, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at approximately $5,701,704.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the transaction, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at approximately $369,681.48. The disclosure for this sale can be found here. Insiders have sold 7,018 shares of company stock worth $1,331,734 in the last ninety days. 0.22% of the stock is owned by insiders.

Institutional Trading of Hershey

A number of large investors have recently made changes to their positions in the company. Econ Financial Services Corp boosted its position in shares of Hershey by 5.2% during the 2nd quarter. Econ Financial Services Corp now owns 909 shares of the company’s stock worth $227,000 after acquiring an additional 45 shares in the last quarter. PFS Investments Inc. lifted its stake in Hershey by 4.1% during the fourth quarter. PFS Investments Inc. now owns 1,159 shares of the company’s stock worth $268,000 after purchasing an additional 46 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Hershey by 0.7% in the second quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $1,698,000 after purchasing an additional 47 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Hershey by 1.1% in the second quarter. Apollon Wealth Management LLC now owns 4,281 shares of the company’s stock valued at $1,069,000 after purchasing an additional 48 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in Hershey by 0.4% during the second quarter. Keybank National Association OH now owns 11,421 shares of the company’s stock worth $2,852,000 after purchasing an additional 49 shares in the last quarter. 56.47% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Company Profile

(Get Free Report)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

Further Reading

Analyst Recommendations for Hershey (NYSE:HSY)

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