Hershey Co (HSY) was Downgraded by Argus to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Argus advised their investors in a research report released on Jul 5, 2016.
Many Wall Street Analysts have commented on Hershey Co. Shares were Reiterated by UBS on Apr 27, 2016 to “Neutral” and Lowered the Price Target to $ 92 from a previous price target of $94 .Hershey Co was Downgraded by BofA/Merrill to ” Underperform” on Apr 20, 2016.
On the company’s financial health, Hershey Co reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.07. The company had revenue of $1828.80 million for the quarter, compared to analysts expectations of $1902.96 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.09 EPS.
Hershey Co closed down -1.54 points or -1.36% at $111.95 with 65,94,170 shares getting traded on Friday. Post opening the session at $112.1, the shares hit an intraday low of $108.54 and an intraday high of $114.59 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 1, 2016, Michele Buck (EVP, Chief Operating Officer) sold 13,500 shares at $108.70 per share price. According to the SEC, on Jun 16, 2016, D Michael Wege (SVP, GS, India, ME, Comm & CSR) sold 1,100 shares at $96.54 per share price. On Jun 15, 2016, Kevin R Walling (SVP Chief HR Officer) sold 13,568 shares at $96.12 per share price, according to the Form-4 filing with the securities and exchange commission.
The Hershey Company (Hershey) is a provider of chocolate and sugar confectionery. The Companys principal confectionery offerings include chocolate and sugar confectionery products; pantry items such as baking ingredients toppings and beverages; snack items such as spreads and gum and mint refreshment products. The Company operates through two segments: North America and International and Other. The North America segment is responsible for its chocolate and sugar confectionery business in the United States and Canada. The International and Other segment includes all other countries where the Company manufactures imports markets sells or distributes chocolate sugar confectionery and other products. This includes operations in Asia Latin America Europe Africa and the Middle East along with exports to these regions. This segment also includes its global retail operations including Hersheys Chocolate World stores.