The Hershey Company (NYSE:HSY) Sees Large Drop in Short Interest

The Hershey Company (NYSE:HSY) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 6,950,000 shares, a decrease of 6.7% from the December 15th total of 7,450,000 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is presently 3.3 days.

Hershey Price Performance

Shares of NYSE:HSY traded down $1.20 during trading on Friday, reaching $152.82. The company had a trading volume of 1,937,259 shares, compared to its average volume of 1,299,500. Hershey has a 12 month low of $150.31 and a 12 month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $30.92 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The company has a fifty day moving average of $171.86 and a two-hundred day moving average of $184.39.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given 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 yield of 3.59%. Hershey’s payout ratio is 63.13%.

Hedge Funds Weigh In On Hershey

A number of hedge funds and other institutional investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Hershey in the third quarter worth approximately $1,337,000. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in 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 in the last quarter. Woodstock Corp grew its holdings in shares of Hershey by 34.8% during the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,780 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Hershey by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after purchasing an additional 45,936 shares during the last quarter. Finally, Pensionfund Sabic raised its position in Hershey by 55.6% in the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,000 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HSY. JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America reiterated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. TD Cowen dropped their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group reduced 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. Finally, Wells Fargo & Company dropped their target price on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average price target of $176.42.

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.