Hershey Co (HSY) is Resumed by BofA/Merrill to Underperform, Price Target at $100

Hershey Co (HSY) was Resumed by BofA/Merrill to “Underperform” and the brokerage firm has set the Price Target at $100. BofA/Merrill advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on Hershey Co. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 105 from a previous price target of $92 .Hershey Co was Downgraded by Argus to ” Hold” on Jul 5, 2016.

On the company’s financial health, Hershey Co reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.78. The company had revenue of $1637.70 million for the quarter, compared to analysts expectations of $1608.86 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Hershey Co opened for trading at $110.58 and hit $112 on the upside on Monday, eventually ending the session at $111.67, with a gain of 0.71% or 0.79 points. The heightened volatility saw the trading volume jump to 18,01,179 shares. Company has a market cap of $23,807 M.

In a different news, on Aug 16, 2016, D Michael Wege (SVP, GS, India, ME, Comm & CSR) sold 1,100 shares at $111.41 per share price. According to the SEC, on Jul 1, 2016, Michele Buck (EVP, Chief Operating Officer) sold 13,500 shares at $108.70 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 Company’s 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 Hershey’s Chocolate World stores.

Hershey Co

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