Hershey (NYSE:HSY) Hits New 1-Year Low – Here’s What Happened

The Hershey Company (NYSE:HSY) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $165.78 and last traded at $166.81, with a volume of 395130 shares traded. The stock had previously closed at $169.03.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays cut their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Stifel Nicolaus decreased their target price on shares of 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 reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Piper Sandler raised their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $184.61.

Hershey Stock Performance

The stock has a market capitalization of $34.05 billion, a P/E ratio of 19.39, a P/E/G ratio of 4.38 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $175.74 and a two-hundred day simple moving average of $186.16.

Hershey Dividend Announcement

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. This represents a $5.48 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently modified their holdings of HSY. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hershey in the 3rd quarter valued at about $1,337,000. Principal Financial Group Inc. increased its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. HighTower Advisors LLC raised its holdings in Hershey by 61.9% in the 3rd 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 in the last quarter. LPL Financial LLC lifted its position in shares of Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares during the period. Finally, Soltis Investment Advisors LLC increased its position in shares of Hershey by 53.7% in the third 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 institutional investors and hedge funds.

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.