Hershey (NYSE:HSY) Stock Rating Lowered by Wells Fargo & Company

Hershey (NYSE:HSY - Get Free Report) was downgraded by stock analysts at Wells Fargo & Company from an "equal weight" rating to an "underweight" rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $160.00 price objective on the stock, down from their previous price objective of $175.00. Wells Fargo & Company's price objective would suggest a potential downside of 12.18% from the company's current price.

A number of other brokerages have also weighed in on HSY. Citigroup lowered shares of Hershey from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Stifel Nicolaus lowered their price objective on shares of Hershey from $195.00 to $180.00 and set a "hold" rating for the company in a report on Friday, October 25th. Jefferies Financial Group lowered their price objective on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $183.00 price objective on shares of Hershey in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $185.17.

Hershey Price Performance

HSY stock traded up $5.19 during midday trading on Thursday, reaching $182.19. The company had a trading volume of 1,622,379 shares, compared to its average volume of 1,811,385. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. Hershey has a 1 year low of $168.16 and a 1 year high of $211.92. The company has a market capitalization of $36.87 billion, a P/E ratio of 20.71, a P/E/G ratio of 4.18 and a beta of 0.37. The firm has a 50-day moving average price of $180.25 and a 200-day moving average price of $188.54.

Institutional Investors Weigh In On Hershey

Several institutional investors and hedge funds have recently modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new position in Hershey during the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC lifted its position in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock valued at $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its position in Hershey by 55.0% during 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 during the period. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its position in Hershey by 71.9% during the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company's stock valued at $46,000 after acquiring an additional 105 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.