Hershey (NYSE:HSY) Sees Strong Trading Volume – Time to Buy?

The Hershey Company (NYSE:HSY) saw an uptick in trading volume on Monday . 5,987,186 shares were traded during mid-day trading, an increase of 247% from the previous session’s volume of 1,726,424 shares.The stock last traded at $199.51 and had previously closed at $174.70.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HSY shares. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their target price for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and dropped their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to MarketBeat.com, Hershey has an average rating of “Hold” and a consensus target price of $187.94.

Hershey Stock Up 12.9 %

The firm has a 50 day simple moving average of $180.63 and a 200-day simple moving average of $188.74. 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 stock has a market cap of $39.91 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.78%. Hershey’s payout ratio is presently 63.13%.

Institutional Investors Weigh In On Hershey

Large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the third quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its position in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of 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 purchasing an additional 55 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Hershey in the second quarter worth approximately $29,000. Finally, Peterson Financial Group Inc. bought a new stake in Hershey during the third quarter valued at approximately $46,000. 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.