Wells Fargo & Company Issues Pessimistic Forecast for Hershey (NYSE:HSY) Stock Price

Hershey (NYSE:HSY) had its price target reduced by analysts at Wells Fargo & Company from $160.00 to $150.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 10.77% from the stock’s current price.

HSY has been the subject of a number of other reports. Jefferies Financial Group lowered their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Mizuho decreased their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Piper Sandler boosted their target price on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $184.06.

Hershey Price Performance

Shares of HSY traded up $1.37 during trading hours on Tuesday, hitting $168.11. The stock had a trading volume of 139,364 shares, compared to its average volume of 822,261. Hershey has a 52 week low of $165.78 and a 52 week high of $211.92. The company’s fifty day moving average is $175.42 and its two-hundred day moving average is $186.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $34.02 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 4.38 and a beta of 0.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC bought a new position in Hershey in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. lifted its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Hershey in the 3rd quarter worth $46,000. Future Financial Wealth Managment LLC bought a new position in Hershey during the 3rd quarter worth about $48,000. Finally, Quarry LP raised its stake in shares of Hershey by 123.9% in the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after purchasing an additional 166 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

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.