Hershey (NYSE:HSY) Trading Up 3.8% – Should You Buy?

The Hershey Company (NYSE:HSY) was up 3.8% during mid-day trading on Thursday . The stock traded as high as $183.83 and last traded at $183.73. Approximately 1,871,882 shares changed hands during trading, an increase of 3% from the average daily volume of 1,812,316 shares. The stock had previously closed at $177.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HSY. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Wells Fargo & Company lowered shares of Hershey from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $175.00 to $160.00 in a research note on Thursday. Mizuho dropped their price target on shares of Hershey from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $185.17.

Hershey Trading Up 3.9 %

The firm’s 50-day moving average price is $180.25 and its 200 day moving average price is $188.54. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 4.18 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.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Trading of Hershey

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew 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 purchasing an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Hershey in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its position in shares of Hershey by 71.9% during the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after buying an additional 105 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.