Hershey (NYSE:HSY) Shares Down 3.4% – Here’s Why

The Hershey Company (NYSE:HSY)’s share price fell 3.4% during trading on Wednesday . The company traded as low as $163.56 and last traded at $163.78. 1,063,191 shares changed hands during trading, a decline of 46% from the average session volume of 1,962,456 shares. The stock had previously closed at $169.62.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays lowered their price target on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. TD Cowen lowered their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Mizuho reduced their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.50.

Hershey Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $32.81 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The firm’s fifty day moving average is $165.30 and its 200-day moving average is $173.14.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, research analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.38%. Hershey’s dividend payout ratio is currently 50.28%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Institutional Trading of Hershey

Several hedge funds have recently made changes to their positions in HSY. Montag & Caldwell LLC purchased a new stake in Hershey during the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey in the fourth quarter worth $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey during the fourth quarter worth $28,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Hershey in the fourth quarter valued at $28,000. Finally, Grove Bank & Trust boosted its holdings in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds 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.