Hershey (NYSE:HSY) Reaches New 1-Year Low – What’s Next?

The Hershey Company (NYSE:HSY) reached a new 52-week low during trading on Friday . The company traded as low as $170.81 and last traded at $171.48, with a volume of 901574 shares traded. The stock had previously closed at $178.94.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Bank of America dropped their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Redburn Atlantic started coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Five equities 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, the company presently has an average rating of “Hold” and an average price target of $189.33.

Hershey Stock Performance

The firm has a market cap of $34.58 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.42 and a beta of 0.38. The firm’s 50 day moving average is $187.31 and its 200-day moving average is $191.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. increased 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 buying an additional 55 shares during the period. Burns J W & Co. Inc. NY raised its position in Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares in the last quarter. Wesbanco Bank Inc. grew its stake in shares of Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock valued at $308,000 after purchasing an additional 59 shares during the period. Brighton Jones LLC grew its position in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after acquiring an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. grew its holdings in shares of Hershey by 1.5% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

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.