Hershey (NYSE:HSY) Hits New 12-Month Low – What’s Next?

Shares of The Hershey Company (NYSE:HSY) hit a new 52-week low on Wednesday . The stock traded as low as $176.62 and last traded at $176.82, with a volume of 2851177 shares trading hands. The stock had previously closed at $180.11.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus cut their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Barclays dropped their price target on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective 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. Piper Sandler dropped their target price on shares of Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target for the company. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $191.61.

Hershey Stock Performance

The stock has a market cap of $35.77 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 4.14 and a beta of 0.38. The company’s fifty day simple moving average is $189.89 and its two-hundred day simple moving average is $192.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Burns J W & Co. Inc. NY increased its holdings in Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the last quarter. Wesbanco Bank Inc. raised its stake in 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 acquiring an additional 59 shares during the period. Brighton Jones LLC lifted its holdings in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in Hershey by 5.4% during the first quarter. Rehmann Capital Advisory Group now owns 1,165 shares of the company’s stock worth $227,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

About Hershey

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.