Hershey (NYSE:HSY) Sets New 52-Week High on Analyst Upgrade

Hershey Company (The) (NYSE:HSY) reached a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $185.00 to $207.00. Jefferies Financial Group currently has a neutral rating on the stock. Hershey traded as high as $202.72 and last traded at $201.2560, with a volume of 102719 shares. The stock had previously closed at $198.01.

Several other analysts have also recently commented on HSY. Piper Sandler set a $213.00 price objective on shares of Hershey and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Morgan Stanley reiterated an “overweight” rating and set a $214.00 price target on shares of Hershey in a research report on Wednesday, January 28th. Argus raised Hershey to a “hold” rating in a research note on Wednesday, November 26th. Wells Fargo & Company set a $182.00 target price on Hershey and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $188.00 price objective on shares of Hershey in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $194.32.

Insiders Place Their Bets

In other news, CEO Kirk Tanner acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $185.46 per share, for a total transaction of $370,920.00. Following the acquisition, the chief executive officer directly owned 47,860 shares in the company, valued at $8,876,115.60. This trade represents a 4.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stacy Taffet acquired 200 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $186.19 per share, with a total value of $37,238.00. Following the transaction, the insider directly owned 9,371 shares of the company’s stock, valued at approximately $1,744,786.49. This represents a 2.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,000 shares of company stock worth $1,119,450 over the last three months. 0.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Hershey

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hershey by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company’s stock worth $2,618,000 after purchasing an additional 937 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Hershey by 11.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 8,412 shares of the company’s stock valued at $1,396,000 after acquiring an additional 850 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Hershey during the 2nd quarter worth $128,000. Ascent Group LLC increased its position in shares of Hershey by 284.7% in the 2nd quarter. Ascent Group LLC now owns 5,951 shares of the company’s stock worth $987,000 after purchasing an additional 4,404 shares during the last quarter. Finally, OLD National Bancorp IN increased its holdings in Hershey by 895.4% in the second quarter. OLD National Bancorp IN now owns 25,373 shares of the company’s stock valued at $4,211,000 after buying an additional 22,824 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

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 company has a 50 day simple moving average of $187.48 and a 200-day simple moving average of $184.90. The stock has a market cap of $40.93 billion, a price-to-earnings ratio of 30.14 and a beta of 0.18.

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.