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

The Hershey Company (NYSE:HSY) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $165.78 and last traded at $166.81, with a volume of 395130 shares traded. The stock had previously closed at $169.03.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Barclays lowered their target price 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. Sanford C. Bernstein downgraded shares of 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 research note on Monday, October 7th. Finally, Wells Fargo & Company cut shares of Hershey from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $175.00 to $160.00 in a research report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $184.61.

Hershey Price Performance

The business has a 50 day simple moving average of $175.74 and a 200-day simple moving average of $186.16. 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 $34.05 billion, a P/E ratio of 19.39, a P/E/G ratio of 4.38 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Hedge Funds Weigh In On Hershey

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of Hershey in the third quarter worth $25,000. GHP Investment Advisors Inc. raised its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Hershey in the 3rd quarter valued at about $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the third quarter valued at approximately $48,000. Finally, Quarry LP boosted its position in Hershey by 123.9% during the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after buying an additional 166 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

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.