Hershey (HSY) Given a $108.00 Price Target by Susquehanna Bancshares Analysts
HSY has been the topic of a number of other research reports. Zacks Investment Research raised Hershey from a hold rating to a buy rating and set a $122.00 price target on the stock in a research note on Monday, October 2nd. Royal Bank of Canada reaffirmed a hold rating and issued a $122.00 target price on shares of Hershey in a research report on Friday, December 22nd. Goldman Sachs Group lowered Hershey from a neutral rating to a sell rating and set a $101.00 target price on the stock. in a research report on Tuesday. Sanford C. Bernstein set a $124.00 target price on Hershey and gave the stock a buy rating in a research report on Tuesday, December 19th. Finally, UBS Group cut their target price on Hershey from $110.00 to $106.00 and set a neutral rating on the stock in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $112.89.
Shares of Hershey (NYSE:HSY) traded up $1.58 during trading on Wednesday, hitting $109.37. The company’s stock had a trading volume of 1,045,860 shares, compared to its average volume of 665,114. Hershey has a one year low of $101.61 and a one year high of $116.49. The stock has a market cap of $22,707.90, a price-to-earnings ratio of 32.55, a PEG ratio of 2.70 and a beta of 0.38. The company has a current ratio of 0.95, a quick ratio of 0.55 and a debt-to-equity ratio of 2.45.
Hershey declared that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In related news, insider Michele Buck sold 400 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the sale, the insider now directly owns 164,897 shares in the company, valued at approximately $17,808,876. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP D Michael Wege sold 15,517 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The disclosure for this sale can be found here. Insiders sold a total of 16,717 shares of company stock worth $1,811,009 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Industries Inc. acquired a new stake in Hershey in the 2nd quarter valued at $614,000. HighTower Advisors LLC increased its holdings in Hershey by 10.8% in the 2nd quarter. HighTower Advisors LLC now owns 44,186 shares of the company’s stock valued at $4,747,000 after purchasing an additional 4,297 shares in the last quarter. Toronto Dominion Bank increased its holdings in Hershey by 13.2% in the 3rd quarter. Toronto Dominion Bank now owns 53,737 shares of the company’s stock valued at $5,865,000 after purchasing an additional 6,261 shares in the last quarter. Vaughan David Investments Inc. IL increased its holdings in Hershey by 13,195.1% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 271,221 shares of the company’s stock valued at $27,787,000 after purchasing an additional 269,181 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Hershey by 2.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,203 shares of the company’s stock valued at $5,504,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 51.26% of the company’s stock.
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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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