Hershey (NYSE:HSY) Reaches New 52-Week Low Following Analyst Downgrade

The Hershey Company (NYSE:HSY) shares reached 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. The stock had previously closed at $151.12.

Several other research analysts have also commented on HSY. JPMorgan Chase & Co. lowered their price objective on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Mizuho cut their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. TD Cowen cut their price target on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $172.32.

Institutional Trading of Hershey

Large investors have recently made changes to their positions in the company. AE Wealth Management LLC lifted its stake in Hershey by 5.6% in the second quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock valued at $695,000 after buying an additional 200 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Hershey by 48.3% in the 2nd quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock valued at $14,864,000 after acquiring an additional 26,318 shares during the period. ProShare Advisors LLC raised its position in Hershey by 11.2% in the 2nd quarter. ProShare Advisors LLC now owns 27,204 shares of the company’s stock valued at $5,001,000 after purchasing an additional 2,742 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Hershey during the 2nd quarter worth $371,000. Finally, Gabelli Funds LLC acquired a new position in Hershey in the second quarter valued at $460,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Down 1.2 %

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

Hershey Dividend Announcement

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