Hershey (NYSE:HSY) Stock Price Down 3.6% - What's Next?

Hershey Company (The) (NYSE:HSY - Get Free Report)'s stock price fell 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 traded hands during 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 analysts have recently weighed in on the company. Sanford C. Bernstein lifted their target price on Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded Hershey from a "hold" rating to a "sell" rating in a research report on Sunday. Royal Bank Of Canada dropped their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, DA Davidson increased their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Six analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $158.84.

Hershey Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. The company has a market capitalization of $33.27 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 6.28 and a beta of 0.30. The stock has a 50 day simple moving average of $165.66 and a two-hundred day simple moving average of $164.83.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) 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 company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the firm posted $3.07 earnings per share. Hershey's revenue for the quarter was down 13.8% on a year-over-year basis. As a group, analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's dividend payout ratio is currently 67.57%.

Insider Transactions at Hershey

In other Hershey news, insider Rohit Grover sold 1,333 shares of Hershey stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $233,275.00. Following the transaction, the insider directly owned 39,402 shares in the company, valued at approximately $6,895,350. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James Turoff sold 1,300 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the sale, the senior vice president owned 25,321 shares of the company's stock, valued at $4,431,175. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,107 shares of company stock worth $9,008,118 in the last three months. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Hershey

Several hedge funds have recently made changes to their positions in the business. Montag & Caldwell LLC purchased a new stake in shares of Hershey during the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Hershey during the fourth quarter worth about $28,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Hershey during the first quarter worth about $28,000. Institutional investors and hedge funds 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.