The Hershey Company (NYSE:HSY) Short Interest Update

The Hershey Company (NYSE:HSY) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 7,470,000 shares, a decline of 5.7% from the November 15th total of 7,920,000 shares. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HSY shares. JPMorgan Chase & Co. dropped their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Barclays reduced their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.17.

Hershey Stock Down 2.7 %

Shares of NYSE HSY opened at $178.22 on Tuesday. The company has a market cap of $36.06 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 4.24 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. The firm’s fifty day moving average is $179.74 and its 200 day moving average is $188.20. Hershey has a 52 week low of $168.16 and a 52 week high of $211.92.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.07%. Hershey’s dividend payout ratio is currently 63.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Hershey by 30,461.7% in the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hershey in the second quarter valued at $82,123,000. Principal Financial Group Inc. increased its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. State Street Corp raised its holdings in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after purchasing an additional 230,077 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.