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

Shares of The Hershey Company (NYSE:HSY) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $155.76 and last traded at $156.99, with a volume of 89729 shares. The stock had previously closed at $157.28.

Analyst Ratings Changes

Several research firms have weighed in on HSY. TD Cowen cut their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Stifel Nicolaus lowered their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.68.

Hershey Price Performance

The firm has a fifty day moving average of $173.19 and a 200 day moving average of $185.04. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $30.71 billion, a P/E ratio of 17.48, a P/E/G ratio of 4.31 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.61%. Hershey’s dividend payout ratio is presently 63.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSY. J2 Capital Management Inc purchased a new stake in Hershey during the 4th quarter valued at $348,000. Aaron Wealth Advisors LLC grew its holdings in shares of Hershey by 12.1% in the fourth quarter. Aaron Wealth Advisors LLC now owns 4,681 shares of the company’s stock worth $793,000 after acquiring an additional 505 shares during the period. Triangle Securities Wealth Management purchased a new stake in Hershey during the fourth quarter valued at $410,000. HB Wealth Management LLC lifted its holdings in Hershey by 20.7% in the fourth quarter. HB Wealth Management LLC now owns 3,585 shares of the company’s stock valued at $607,000 after acquiring an additional 616 shares during the period. Finally, BTS Asset Management Inc. boosted its position in Hershey by 71.3% in the fourth quarter. BTS Asset Management Inc. now owns 1,833 shares of the company’s stock worth $310,000 after purchasing an additional 763 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Company Profile

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.