Hershey (NYSE:HSY) Reaches New 52-Week Low - What's Next?

The Hershey Company (NYSE:HSY - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $170.81 and last traded at $171.48, with a volume of 901574 shares changing hands. The stock had previously closed at $178.94.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a "hold" rating in a research note on Tuesday, September 10th. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada dropped their target price on Hershey from $205.00 to $183.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group reduced their price target on Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group began coverage on Hershey in a research note on Monday, August 12th. They issued a "sell" rating and a $185.00 price target on the stock. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $189.33.

Hershey Stock Performance

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 fifty day moving average price of $187.31 and a two-hundred day moving average price of $191.81. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 4.42 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. Hershey's dividend payout ratio (DPR) is 63.13%.

Institutional Trading of Hershey

A number of hedge funds have recently bought and sold shares of HSY. LPL Financial LLC increased its stake 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 last quarter. CreativeOne Wealth LLC increased its position in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company's stock worth $1,353,000 after purchasing an additional 4,468 shares during the last quarter. Sei Investments Co. raised its stake in Hershey by 2.2% during the first quarter. Sei Investments Co. now owns 54,540 shares of the company's stock worth $10,608,000 after purchasing an additional 1,168 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company's stock valued at $2,986,000 after purchasing an additional 2,635 shares during the last quarter. Finally, JLB & Associates Inc. grew its stake in shares of Hershey by 53.5% during the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company's stock valued at $12,414,000 after buying an additional 22,562 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

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.