Hershey (NYSE:HSY) Hits New 52-Week Low Following Analyst Downgrade

The Hershey Company (NYSE:HSY) reached 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. The stock had previously closed at $170.26.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on 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 upped their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus cut their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and a consensus price target of $184.61.

Institutional Investors Weigh In On Hershey

Institutional investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Hershey in the 3rd quarter valued at $1,337,000. Principal Financial Group Inc. boosted its holdings in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. HighTower Advisors LLC grew its position in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after acquiring an additional 45,936 shares during the period. LPL Financial LLC increased its stake in Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after acquiring an additional 29,246 shares during the last quarter. Finally, Soltis Investment Advisors LLC raised its holdings in shares of Hershey by 53.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 44,339 shares of the company’s stock worth $8,503,000 after purchasing an additional 15,497 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The company has a market capitalization of $34.00 billion, a PE ratio of 19.36, a P/E/G ratio of 4.24 and a beta of 0.37. The business has a fifty day moving average price of $178.57 and a 200 day moving average price of $187.55.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.26%. Hershey’s dividend payout ratio (DPR) is 63.13%.

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.