Hershey (NYSE:HSY) Reaches New 52-Week Low on Analyst Downgrade

The Hershey Company (NYSE:HSY) reached a new 52-week low during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $184.00 to $148.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Hershey traded as low as $150.28 and last traded at $150.04, with a volume of 68189 shares. The stock had previously closed at $151.12.

Several other research analysts have also issued reports on the company. Wells Fargo & Company cut their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. UBS Group cut their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen cut their price target on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.32.

Institutional Investors Weigh In On Hershey

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Hershey during the 3rd quarter valued at approximately $25,000. Grove Bank & Trust grew its position in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Hershey during the 3rd quarter valued at approximately $46,000. Future Financial Wealth Managment LLC bought a new position in shares of Hershey during the 3rd quarter valued at approximately $48,000. Finally, ST Germain D J Co. Inc. grew its position in shares of Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.8 %

The stock’s 50-day moving average price is $170.12 and its two-hundred day moving average price is $183.73. The stock has a market capitalization of $30.32 billion, a P/E ratio of 17.26, a P/E/G ratio of 4.30 and a beta of 0.38. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio is currently 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.