Hershey (NYSE:HSY) Hits New 1-Year Low on Analyst Downgrade

The Hershey Company (NYSE:HSY)’s stock price hit a new 52-week low during mid-day trading 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.

HSY has been the subject of a number of other research reports. Wells Fargo & Company downgraded Hershey from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $175.00 to $160.00 in a report on Thursday, December 12th. Bank of America reissued a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Jefferies Financial Group decreased their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lantz Financial LLC bought a new position in Hershey in the 2nd quarter worth approximately $1,841,000. &PARTNERS bought a new position in shares of Hershey in the second quarter worth $405,000. SlateStone Wealth LLC increased its holdings in shares of Hershey by 3.2% during the second quarter. SlateStone Wealth LLC now owns 6,180 shares of the company’s stock valued at $1,136,000 after purchasing an additional 191 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Hershey by 11.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 89,691 shares of the company’s stock valued at $16,488,000 after purchasing an additional 8,899 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Hershey by 80.2% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,138 shares of the company’s stock valued at $1,312,000 after purchasing an additional 3,177 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 1.3 %

The stock has a market cap of $34.00 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37. 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’s 50-day moving average is $178.57 and its 200-day moving average is $187.55.

Hershey Dividend Announcement

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. This represents a $5.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 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.