Short Interest in The Hershey Company (NYSE:HSY) Declines By 6.7%

The Hershey Company (NYSE:HSY) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 6,950,000 shares, a drop 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 currently 3.3 days.

Hershey Price Performance

Hershey stock traded down $1.20 during trading hours on Friday, hitting $152.82. The stock had a trading volume of 1,937,259 shares, compared to its average volume of 1,299,500. Hershey has a 1-year low of $150.31 and a 1-year high of $211.92. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38. The stock’s fifty day moving average is $171.86 and its two-hundred day moving average is $184.39. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were paid a $1.37 dividend. 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 added to or reduced their stakes in the business. Burns J W & Co. Inc. NY increased its stake in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares in the last quarter. Brighton Jones LLC grew its holdings in Hershey by 2.3% during the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after buying an additional 59 shares during the last quarter. Park Avenue Securities LLC increased its position in Hershey by 1.1% during the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after buying an additional 62 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Hershey by 23.3% in the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after acquiring an additional 63 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in shares of Hershey by 1.6% in the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock valued at $792,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HSY shares. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $230.00 to $205.00 in a report on Monday, October 7th. Mizuho reduced their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. TD Cowen lowered their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $176.42.

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.