Citigroup Raises Hershey (NYSE:HSY) Price Target to $170.00

Hershey (NYSE:HSY) had its price objective hoisted by Citigroup from $140.00 to $170.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the stock.

HSY has been the topic of a number of other reports. Bank of America lowered their price target on shares of Canopy Growth from $80.00 to $75.00 and set a buy rating on the stock in a report on Wednesday, June 19th. Zacks Investment Research raised shares of HANNOVER RUECK/S from a sell rating to a hold rating in a research report on Friday, May 17th. Barclays set a $46.00 price objective on shares of D. R. Horton and gave the company a buy rating in a research report on Friday, April 26th. UBS Group reaffirmed a hold rating and issued a $7.80 price objective on shares of Deutsche Bank in a research report on Friday, April 26th. Finally, Piper Jaffray Companies lowered shares of Hershey from a neutral rating to an underweight rating and increased their price objective for the company from $122.00 to $125.00 in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $125.14.

NYSE:HSY opened at $145.18 on Thursday. Hershey has a fifty-two week low of $90.52 and a fifty-two week high of $147.59. The company has a market cap of $30.31 billion, a PE ratio of 27.09, a P/E/G ratio of 3.18 and a beta of 0.11. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27. The firm has a 50-day moving average price of $137.27.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.11. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the business earned $1.41 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Hershey will post 5.7 earnings per share for the current fiscal year.

In other Hershey news, CEO Michele Buck sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $129.14, for a total transaction of $774,840.00. Following the completion of the transaction, the chief executive officer now directly owns 163,429 shares of the company’s stock, valued at approximately $21,105,221.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Javier H. Idrovo sold 7,385 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $120.00, for a total transaction of $886,200.00. Following the transaction, the vice president now directly owns 33,336 shares of the company’s stock, valued at $4,000,320. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,100 shares of company stock valued at $401,990 and sold 3,684,054 shares valued at $465,216,778. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB raised its position in Hershey by 2.0% during the 1st quarter. Nordea Investment Management AB now owns 632,033 shares of the company’s stock worth $72,575,000 after buying an additional 12,630 shares during the last quarter. Gotham Asset Management LLC raised its position in Hershey by 453.3% during the 4th quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock worth $9,944,000 after buying an additional 76,011 shares during the last quarter. Keybank National Association OH raised its position in Hershey by 9.9% during the 1st quarter. Keybank National Association OH now owns 21,577 shares of the company’s stock worth $2,478,000 after buying an additional 1,952 shares during the last quarter. Hendley & Co. Inc. raised its position in Hershey by 0.7% during the 1st quarter. Hendley & Co. Inc. now owns 43,718 shares of the company’s stock worth $5,020,000 after buying an additional 305 shares during the last quarter. Finally, FormulaFolio Investments LLC purchased a new position in Hershey during the 1st quarter worth approximately $341,000. 53.54% of the stock is owned by institutional investors.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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