Hershey (NYSE:HSY) Hits New 52-Week Low on Analyst Downgrade

The Hershey Company (NYSE:HSY)’s stock price reached a new 52-week low on Monday after Mizuho lowered their price target on the stock from $195.00 to $170.00. Mizuho currently has a neutral rating on the stock. Hershey traded as low as $167.23 and last traded at $167.41, with a volume of 275042 shares changing hands. The stock had previously closed at $170.26.

Other equities research analysts have also recently issued research reports about the company. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $175.00 to $160.00 in a report on Thursday, December 12th. Finally, Barclays lowered their price target on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $184.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the third quarter valued at about $25,000. GHP Investment Advisors Inc. grew its position in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Hershey in the third quarter valued at about $46,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Hershey in the 3rd quarter valued at $48,000. Finally, nVerses Capital LLC bought a new position in Hershey in the 2nd quarter valued at approximately $55,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Trading Up 0.9 %

The business has a fifty day simple moving average of $178.22 and a 200-day simple moving average of $187.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market cap of $34.50 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 4.24 and a beta of 0.37.

Hershey Dividend Announcement

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 was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.21%. Hershey’s payout ratio is 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.