Morgan Stanley Begins Coverage on Hershey (NYSE:HSY)

Equities researchers at Morgan Stanley initiated coverage on shares of Hershey (NYSE:HSY) in a report issued on Monday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $183.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 10.85% from the company’s current price.

Several other brokerages have also recently weighed in on HSY. Barclays lowered their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Bernstein Bank reduced their price target on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $178.00 price objective on shares of Hershey in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company. Based on data from MarketBeat.com, Hershey has an average rating of “Hold” and a consensus price target of $164.67.

Hershey Stock Down 1.7 %

NYSE HSY opened at $165.09 on Monday. The business has a fifty day moving average price of $163.02 and a 200 day moving average price of $174.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The company has a market cap of $33.42 billion, a P/E ratio of 15.15, a P/E/G ratio of 5.90 and a beta of 0.32. Hershey has a one year low of $140.13 and a one year high of $211.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Research analysts anticipate that Hershey will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Hershey

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in Hershey by 73.6% in the third quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock worth $2,159,000 after acquiring an additional 4,772 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Hershey in the 3rd quarter valued at $334,000. Nwam LLC purchased a new stake in shares of Hershey during the 3rd quarter worth $329,000. Cerity Partners LLC grew its stake in shares of Hershey by 63.2% during the third quarter. Cerity Partners LLC now owns 45,606 shares of the company’s stock worth $8,747,000 after purchasing an additional 17,654 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Hershey by 1.0% in the third quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock valued at $1,563,000 after buying an additional 80 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Company Profile

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.