The Hershey Company (NYSE:HSY) Short Interest Update

The Hershey Company (NYSE:HSY) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 7,920,000 shares, a growth of 23.4% from the October 31st total of 6,420,000 shares. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 5.5 days.

Hershey Trading Up 1.0 %

Shares of HSY stock traded up $1.69 on Monday, hitting $177.82. The stock had a trading volume of 2,377,606 shares, compared to its average volume of 1,701,161. The company’s 50 day moving average price is $182.20 and its 200-day moving average price is $189.81. Hershey has a 1 year low of $168.16 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market capitalization of $35.98 billion, a P/E ratio of 20.49, a P/E/G ratio of 4.22 and a beta of 0.38.

Hershey Announces Dividend

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.08%. Hershey’s dividend payout ratio is presently 63.13%.

Analysts Set New Price Targets

Several analysts recently issued reports on HSY shares. Jefferies Financial Group dropped their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $230.00 to $205.00 in a report on Monday, October 7th. Finally, Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $189.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HSY. Tidal Investments LLC increased its position in shares of Hershey by 86.7% during the first quarter. Tidal Investments LLC now owns 11,869 shares of the company’s stock worth $2,308,000 after acquiring an additional 5,511 shares during the period. Comerica Bank increased its holdings in Hershey by 3.4% during the 1st quarter. Comerica Bank now owns 49,456 shares of the company’s stock worth $9,619,000 after purchasing an additional 1,607 shares during the period. Cetera Investment Advisers raised its position in Hershey by 457.7% in the 1st quarter. Cetera Investment Advisers now owns 78,775 shares of the company’s stock valued at $15,322,000 after purchasing an additional 64,651 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Hershey by 28.1% in the 1st quarter. Cetera Advisors LLC now owns 14,146 shares of the company’s stock valued at $2,751,000 after buying an additional 3,103 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Hershey by 884.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,037 shares of the company’s stock worth $395,000 after buying an additional 1,830 shares in the last quarter. Hedge funds and other 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.