Hershey (NYSE:HSY) Trading Down 3.1% – Here’s What Happened

by · The Markets Daily

The Hershey Company (NYSE:HSY – Get Free Report)’s stock price dropped 3.1% on Wednesday . The stock traded as low as $150.31 and last traded at $150.53. Approximately 2,260,824 shares traded hands during trading, an increase of 17% from the average daily volume of 1,934,763 shares. The stock had previously closed at $155.31.

Analysts Set New Price Targets

HSY has been the subject of a number of recent research reports. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Barclays lowered their price target on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday. Stifel Nicolaus reduced their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Finally, UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $176.42.

Check Out Our Latest Stock Analysis on Hershey

Hershey Stock Performance

The firm has a fifty day moving average of $171.86 and a 200-day moving average of $184.39. 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 firm has a market cap of $30.92 billion, a P/E ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

Hedge Funds Weigh In On Hershey

Several large investors have recently bought and sold shares of HSY. Spinnaker Investment Group LLC acquired a new position in shares of Hershey in the 4th quarter valued at $348,000. Avior Wealth Management LLC lifted its stake in Hershey by 6.1% in the fourth quarter. Avior Wealth Management LLC now owns 3,048 shares of the company’s stock valued at $516,000 after buying an additional 175 shares during the period. Advisory Alpha LLC boosted its holdings in Hershey by 3.2% during the fourth quarter. Advisory Alpha LLC now owns 2,988 shares of the company’s stock worth $506,000 after buying an additional 94 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Hershey by 22.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 2,116 shares of the company’s stock worth $358,000 after buying an additional 384 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of Hershey by 6.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 4,272 shares of the company’s stock valued at $724,000 after acquiring an additional 257 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

About Hershey

(Get Free Report)

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.

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