Citigroup Has Lowered Expectations for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price objective dropped by equities researchers at Citigroup from $165.00 to $159.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price suggests a potential downside of 2.16% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Bank of America reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target for the company. Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Hershey from $160.00 to $150.00 and set an “underweight” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.21.

Hershey Price Performance

HSY opened at $162.51 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $174.53 and its 200 day moving average price is $185.61. Hershey has a fifty-two week low of $159.87 and a fifty-two week high of $211.92. The firm has a market cap of $32.88 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Hedge Funds Weigh In On Hershey

Several hedge funds have recently made changes to their positions in HSY. Ashton Thomas Securities LLC acquired a new position in Hershey in the third quarter worth approximately $25,000. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey during the third quarter worth $46,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Hershey during the third quarter worth $48,000. Finally, Quarry LP lifted its holdings in shares of Hershey by 123.9% during the second quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

About Hershey

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; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.