Hershey (NYSE:HSY) Sets New 12-Month Low – Here’s Why

The Hershey Company (NYSE:HSY)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $170.81 and last traded at $171.48, with a volume of 901574 shares traded. The stock had previously closed at $178.94.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HSY. Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted 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. Barclays reduced their target price on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Royal Bank of Canada reduced their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Stock Performance

The company’s fifty day moving average price is $187.89 and its 200 day moving average price is $191.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market cap of $34.85 billion, a PE ratio of 20.20, a P/E/G ratio of 4.42 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.18%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in Hershey during the third quarter worth about $25,000. Capital Advisors Ltd. LLC raised its stake in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised 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 acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Hershey during the second quarter worth approximately $29,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey during the first quarter worth approximately $35,000. Institutional investors own 57.96% of the company’s stock.

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.