Hershey (NYSE:HSY) Reaches New 12-Month Low Following Analyst Downgrade

The Hershey Company (NYSE:HSY) shares hit a new 52-week low during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $184.00 to $148.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Hershey traded as low as $150.28 and last traded at $150.04, with a volume of 68189 shares changing hands. The stock had previously closed at $151.12.

HSY has been the subject of several other reports. Jefferies Financial Group cut their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Finally, TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.32.

Hedge Funds Weigh In On Hershey

A number of large investors have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Hershey during the 3rd quarter worth approximately $1,337,000. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Woodstock Corp grew its position in shares of Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,780 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Hershey by 61.9% in the 3rd 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. Finally, Pensionfund Sabic lifted its position in Hershey by 55.6% in the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

The business’s 50 day simple moving average is $170.12 and its 200-day simple moving average is $183.73. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 4.30 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

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.