Hershey (NYSE:HSY) Rating Lowered to Underweight at Wells Fargo & Company

Hershey (NYSE:HSY) was downgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $160.00 price objective on the stock, down from their previous price objective of $175.00. Wells Fargo & Company‘s target price points to a potential downside of 12.57% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Redburn Atlantic assumed coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and cut their price target for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Barclays reduced their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $185.17.

Hershey Stock Performance

Shares of HSY opened at $183.01 on Thursday. The stock has a 50-day moving average of $179.93 and a two-hundred day moving average of $188.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market cap of $37.03 billion, a P/E ratio of 21.08, a P/E/G ratio of 4.24 and a beta of 0.37. Hershey has a one year low of $168.16 and a one year high of $211.92.

Hedge Funds Weigh In On Hershey

A number of large investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Burns J W & Co. Inc. NY raised its holdings in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after acquiring an additional 58 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after acquiring an additional 59 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in shares of Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after acquiring an additional 61 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Hershey by 10.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock valued at $119,000 after purchasing an additional 61 shares during the last quarter. 57.96% of the stock is currently 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.