Jefferies Financial Group Begins Coverage on Hershey (NYSE:HSY)

Jefferies Financial Group initiated coverage on Hershey (NYSE:HSY) with a "hold" rating and a $181.00 price target, indicating a potential upside of 0.13%. Other analysts have also issued ratings, with a consensus "hold" and an average price target of $182.79. Hershey's recent earnings exceeded expectations, and insider trading activities were reported. Several hedge funds have modified their holdings in Hershey.

Investment analysts at Jefferies Financial Group began coverage on shares of Hershey (NYSE:HSY - Get Free Report) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a "hold" rating and a $181.00 price target on the stock. Jefferies Financial Group's price target indicates a potential upside of 0.13% from the stock's previous close.

A number of other brokerages have also recently commented on HSY. TD Cowen dropped their price target on Hershey from $204.00 to $200.00 and set a "hold" rating on the stock in a research report on Friday, October 31st. Argus upgraded Hershey to a "hold" rating in a research note on Wednesday, November 26th. Barclays set a $188.00 target price on Hershey in a research note on Monday, November 3rd. Morgan Stanley reaffirmed a "mixed" rating and issued a $184.00 price target on shares of Hershey in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Hershey from $187.00 to $189.00 and gave the stock a "neutral" rating in a research note on Monday, October 20th. Three research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hershey presently has a consensus rating of "Hold" and an average price target of $182.79.

Get Our Latest Stock Report on HSY

Hershey Trading Up 0.1%

HSY traded up $0.13 on Thursday, hitting $180.76. 221,787 shares of the company were exchanged, compared to its average volume of 1,754,774. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a fifty day simple moving average of $182.84 and a two-hundred day simple moving average of $178.09. The stock has a market capitalization of $36.66 billion, a PE ratio of 26.97 and a beta of 0.19. Hershey has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.24. Hershey had a return on equity of 32.08% and a net margin of 11.84%.The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter last year, the business posted $2.34 EPS. The business's revenue was up 6.5% on a year-over-year basis. Hershey has set its FY 2025 guidance at 5.900-6.000 EPS. Sell-side analysts expect that Hershey will post 6.12 earnings per share for the current year.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $179.56, for a total transaction of $269,340.00. Following the completion of the transaction, the chief financial officer owned 55,319 shares in the company, valued at $9,933,079.64. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kirk Tanner acquired 2,000 shares of the firm's stock in a transaction on Friday, November 21st. The shares were bought at an average price of $185.46 per share, for a total transaction of $370,920.00. Following the completion of the transaction, the chief executive officer owned 47,860 shares of the company's stock, valued at approximately $8,876,115.60. This trade represents a 4.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,000 shares of company stock worth $1,103,640 in the last three months. 0.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hershey

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Hershey during the 2nd quarter valued at $234,386,000. First Trust Advisors LP boosted its stake in Hershey by 240.0% during the third quarter. First Trust Advisors LP now owns 1,262,671 shares of the company's stock worth $236,183,000 after buying an additional 891,287 shares during the period. Balyasny Asset Management L.P. bought a new position in Hershey during the second quarter valued at $125,868,000. Envestnet Asset Management Inc. raised its stake in shares of Hershey by 121.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,104,299 shares of the company's stock valued at $206,559,000 after acquiring an additional 605,048 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Hershey by 25.4% in the 1st quarter. Royal Bank of Canada now owns 2,753,077 shares of the company's stock worth $470,858,000 after acquiring an additional 557,056 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Company Profile

(Get Free Report)

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.

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