Hershey (NYSE:HSY) Trading Down 3.6% - Here's Why

Hershey Company (The) (NYSE:HSY - Get Free Report) shares traded down 3.6% during mid-day trading on Wednesday . The stock traded as low as $165.95 and last traded at $163.78. 159,967 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,792,846 shares. The stock had previously closed at $169.93.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Mizuho decreased their target price on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Sanford C. Bernstein raised their target price on shares of Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a report on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, DA Davidson raised their target price on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $158.84.

Hershey Stock Performance

The stock has a market cap of $33.39 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 6.08 and a beta of 0.30. The firm's 50-day moving average is $165.64 and its two-hundred day moving average is $164.76. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm earned $3.07 earnings per share. The company's revenue for the quarter was down 13.8% on a year-over-year basis. As a group, research analysts expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP James Turoff sold 1,300 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $227,500.00. Following the completion of the sale, the senior vice president directly owned 25,321 shares in the company, valued at $4,431,175. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,107 shares of company stock worth $9,008,118. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Hershey

Hedge funds have recently added to or reduced their stakes in the stock. Fulton Bank N.A. raised its position in Hershey by 4.9% in the 2nd quarter. Fulton Bank N.A. now owns 1,312 shares of the company's stock worth $218,000 after purchasing an additional 61 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Hershey by 2.4% during the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after acquiring an additional 62 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Hershey by 5.2% in the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after buying an additional 63 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Hershey by 0.9% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after buying an additional 66 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Hershey by 0.9% in the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock valued at $1,179,000 after buying an additional 67 shares during the period. Institutional investors own 57.96% of the company's stock.

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.