Hershey (NYSE:HSY) Stock Price Down 3.4% – What’s Next?

The Hershey Company (NYSE:HSY)’s stock price was down 3.4% during mid-day trading on Wednesday . The company traded as low as $163.56 and last traded at $163.78. Approximately 1,063,191 shares traded hands during trading, a decline of 46% from the average daily volume of 1,962,456 shares. The stock had previously closed at $169.62.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Bernstein Bank cut their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Barclays dropped their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group reduced their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $178.00 price objective on shares of Hershey in a research report on Monday, February 3rd. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $162.50.

Hershey Trading Down 3.4 %

The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The company has a market cap of $33.18 billion, a PE ratio of 15.04, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a fifty day simple moving average of $164.71 and a two-hundred day simple moving average of $173.25.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montag & Caldwell LLC purchased a new stake in shares of Hershey during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in Hershey in the fourth quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey in the fourth quarter valued at $28,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $28,000. Finally, Grove Bank & Trust lifted its holdings in shares of Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

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.