Hershey (NYSE:HSY) Hits New 52-Week Low - Here's Why

The Hershey Company (NYSE:HSY - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $155.76 and last traded at $156.99, with a volume of 89729 shares traded. The stock had previously closed at $157.28.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HSY. Bank of America reaffirmed a "neutral" rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a "sell" rating and a $165.00 price objective for the company. Stifel Nicolaus reduced their target price on Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, October 25th. Jefferies Financial Group dropped 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, Wells Fargo & Company reduced their price objective on Hershey from $160.00 to $150.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $182.21.

Hershey Price Performance

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 50-day moving average price of $173.68 and a 200-day moving average price of $185.24. The firm has a market capitalization of $31.49 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's dividend payout ratio (DPR) is currently 63.13%.

Institutional Trading of Hershey

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in Hershey in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. increased its position in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after buying an additional 55 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Hershey during the 3rd quarter worth $46,000. Future Financial Wealth Managment LLC bought a new position in Hershey during the third quarter worth about $48,000. Finally, ST Germain D J Co. Inc. grew its stake in Hershey by 61.7% in the fourth 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. 57.96% of the stock is owned by institutional investors.

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.