Hershey (NYSE:HSY) Sets New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Trading Down 3.7 %

The stock has a market capitalization of $34.85 billion, a P/E ratio of 20.20, a PEG ratio of 4.42 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The business’s 50 day simple moving average is $187.89 and its 200-day simple moving average is $191.96.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.18%. Hershey’s payout ratio is presently 63.13%.

Hedge Funds Weigh In On Hershey

A number of hedge funds and other institutional investors have recently made changes to their positions in HSY. Vanguard Group Inc. boosted its position in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hershey during the second quarter worth $82,123,000. Finally, Principal Financial Group Inc. boosted its position in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in 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.