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

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

Hershey Stock Down 0.8 %

NYSE HSY traded down $1.20 during trading hours on Monday, hitting $152.82. The company had a trading volume of 1,937,259 shares, compared to its average volume of 1,299,500. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. Hershey has a fifty-two week low of $150.31 and a fifty-two week high of $211.92. The firm’s 50 day moving average is $171.86 and its 200 day moving average is $184.39.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HSY. International Assets Investment Management LLC lifted 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. Principal Financial Group Inc. lifted its holdings 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 worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. State Street Corp boosted its position in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after buying an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after buying an additional 109,336 shares during the period. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HSY shares. Citigroup cut their price objective on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research report on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. UBS Group dropped their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Barclays lowered their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock 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.