Hershey (NYSE:HSY) Receives Neutral Rating from Bank of America

Hershey (NYSE:HSY - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Bank of America in a research report issued to clients and investors on Thursday, MarketBeat reports. They presently have a $180.00 target price on the stock. Bank of America's target price suggests a potential downside of 2.15% from the company's current price.

HSY has been the topic of a number of other reports. Wells Fargo & Company cut shares of Hershey from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $175.00 to $160.00 in a research note on Thursday. Jefferies Financial Group decreased their price target on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a research note on Thursday, October 31st. Mizuho dropped their price objective on Hershey from $200.00 to $180.00 and set a "neutral" rating for the company in a research report on Monday. Stifel Nicolaus decreased their target price on Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. Finally, Sanford C. Bernstein cut shares of Hershey from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average target price of $185.17.

Hershey Price Performance

Hershey stock traded up $6.95 during trading hours on Thursday, reaching $183.95. 3,726,569 shares of the stock were exchanged, compared to its average volume of 1,820,416. The stock has a 50 day moving average of $180.25 and a two-hundred day moving average of $188.54. The company has a market cap of $37.22 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. Hershey has a twelve month low of $168.16 and a twelve month high of $211.92.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Hershey in the third quarter valued at about $1,337,000. HighTower Advisors LLC lifted its stake in shares of Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company's stock worth $23,052,000 after acquiring an additional 45,936 shares during the period. LPL Financial LLC boosted its holdings in Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company's stock valued at $58,951,000 after acquiring an additional 29,246 shares during the last quarter. MAI Capital Management increased its position in Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company's stock valued at $23,620,000 after purchasing an additional 12,832 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Hershey by 171.8% during the 3rd quarter. IHT Wealth Management LLC now owns 11,140 shares of the company's stock worth $2,137,000 after purchasing an additional 7,042 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

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.