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

The Hershey Company (NYSE:HSY) hit 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 changing hands. The stock had previously closed at $151.12.

Several other equities analysts also recently commented on HSY. JPMorgan Chase & Co. cut their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group dropped their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday. Piper Sandler lowered their price target on Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Finally, Bank of America restated a “neutral” rating and set a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.32.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. AE Wealth Management LLC raised its holdings in Hershey by 5.6% during the 2nd quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock worth $695,000 after purchasing an additional 200 shares during the last quarter. Sei Investments Co. lifted its holdings in Hershey by 48.3% in the second quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock valued at $14,864,000 after buying an additional 26,318 shares during the period. ProShare Advisors LLC lifted its holdings in Hershey by 11.2% in the second quarter. ProShare Advisors LLC now owns 27,204 shares of the company’s stock valued at $5,001,000 after buying an additional 2,742 shares during the period. Gabelli Funds LLC acquired a new position in Hershey in the second quarter valued at $460,000. Finally, Public Sector Pension Investment Board raised its position in shares of Hershey by 64.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,470 shares of the company’s stock worth $1,006,000 after acquiring an additional 2,140 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

The business has a 50 day moving average price of $170.12 and a 200-day moving average price of $183.73. The company has a market capitalization of $30.32 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 4.30 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.66%. 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.