Hershey (NYSE:HSY) Shares Down 3.1% – Time to Sell?

The Hershey Company (NYSE:HSY)’s stock price was down 3.1% during mid-day trading on Wednesday . The company traded as low as $150.31 and last traded at $150.53. Approximately 2,260,824 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 1,934,763 shares. The stock had previously closed at $155.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HSY. TD Cowen dropped their price objective 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. Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Piper Sandler cut their target price on Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday. Mizuho decreased their price target on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Price Performance

The company’s 50 day moving average is $171.86 and its 200-day moving average is $184.39. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Investors Weigh In On Hershey

Several hedge funds have recently added to or reduced their stakes in HSY. International Assets Investment Management LLC lifted its stake in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Hershey in the 2nd quarter valued at about $82,123,000. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% in the 3rd 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. State Street Corp boosted its holdings in shares of Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Institutional investors and hedge funds 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.