Hershey (NYSE:HSY) Shares Gap Down – What’s Next?

The Hershey Company (NYSE:HSY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $187.19, but opened at $178.65. Hershey shares last traded at $178.82, with a volume of 398,737 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HSY. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Stifel Nicolaus lowered their price target 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. Argus cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and an average price target of $187.94.

Hershey Stock Performance

The firm has a 50 day moving average of $180.67 and a 200-day moving average of $188.69. The company has a market cap of $36.81 billion, a P/E ratio of 20.15, a PEG ratio of 4.18 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Institutional Trading of Hershey

A number of hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC raised its stake in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in Hershey during the 2nd quarter valued at $29,000. Finally, Gradient Investments LLC increased its holdings in shares of Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after acquiring an additional 105 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Company Profile

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.