Hershey (HSY) Downgraded to Sell at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Hershey (NYSE:HSY) from a neutral rating to a sell rating in a research report released on Tuesday. They currently have $101.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Hershey from a hold rating to a buy rating and set a $122.00 target price on the stock in a research note on Monday, October 2nd. Royal Bank of Canada restated a hold rating and issued a $122.00 target price on shares of Hershey in a research note on Friday, December 22nd. Susquehanna Bancshares set a $113.00 target price on shares of Hershey and gave the company a hold rating in a research note on Thursday, October 26th. Sanford C. Bernstein set a $124.00 target price on shares of Hershey and gave the company a buy rating in a research note on Tuesday, December 19th. Finally, UBS Group cut their target price on shares of Hershey from $110.00 to $106.00 and set a neutral rating on the stock in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $112.89.

Shares of Hershey (NYSE HSY) traded down $0.98 during mid-day trading on Tuesday, reaching $108.29. 1,641,000 shares of the company’s stock were exchanged, compared to its average volume of 890,150. Hershey has a 52-week low of $101.61 and a 52-week 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. The firm has a market cap of $22,950.00, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.73 and a beta of 0.38.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 26th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Hershey had a net margin of 9.52% and a return on equity of 124.06%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. research analysts predict that Hershey will post 4.8 EPS for the current fiscal year.

Hershey announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In other Hershey news, SVP D Michael Wege sold 15,517 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the transaction, the insider now owns 164,897 shares of the company’s stock, valued at approximately $17,808,876. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,717 shares of company stock valued at $1,811,009. Insiders own 0.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ropes Wealth Advisors LLC grew its position in Hershey by 1.9% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 5,447 shares of the company’s stock worth $585,000 after purchasing an additional 100 shares during the last quarter. D.A. Davidson & CO. grew its position in Hershey by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 13,148 shares of the company’s stock worth $1,411,000 after purchasing an additional 138 shares during the last quarter. Riverhead Capital Management LLC grew its position in Hershey by 2.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,768 shares of the company’s stock worth $727,000 after purchasing an additional 189 shares during the last quarter. WFG Advisors LP grew its position in Hershey by 25.2% in the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after purchasing an additional 201 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in Hershey by 2.3% in the 2nd quarter. Moors & Cabot Inc. now owns 9,670 shares of the company’s stock worth $1,037,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 51.26% of the company’s stock.

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Hershey Company Profile

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.

Analyst Recommendations for Hershey (NYSE:HSY)

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