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

The Hershey Company (NYSE:HSY) reached a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $180.00 to $170.00. Stifel Nicolaus 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.

HSY has been the topic of several other reports. TD Cowen lowered their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup dropped their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.79.

Institutional Investors Weigh In On Hershey

A number of hedge funds have recently modified their holdings of HSY. Sei Investments Co. increased its holdings in shares of Hershey by 48.3% during the 2nd quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock worth $14,864,000 after buying an additional 26,318 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Hershey during the second quarter worth $460,000. Public Sector Pension Investment Board lifted its stake in shares of Hershey by 64.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,470 shares of the company’s stock valued at $1,006,000 after purchasing an additional 2,140 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Hershey by 59.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,601 shares of the company’s stock worth $5,258,000 after purchasing an additional 10,706 shares during the period. Finally, AXA S.A. increased its position in shares of Hershey by 7.6% during the 2nd quarter. AXA S.A. now owns 46,303 shares of the company’s stock worth $8,512,000 after purchasing an additional 3,290 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

The firm’s fifty day moving average is $169.54 and its 200-day moving average is $183.49. 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 stock has a market capitalization of $30.46 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.64%. Hershey’s dividend payout ratio is currently 63.13%.

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.