Short Interest in The Hershey Company (NYSE:HSY) Increases By 23.4%

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

Hershey Stock Performance

NYSE:HSY traded up $1.69 during midday trading on Monday, reaching $177.82. The stock had a trading volume of 2,377,606 shares, compared to its average volume of 1,701,161. The stock has a market cap 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. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 12-month low of $168.16 and a 12-month high of $211.92. The firm has a fifty day simple moving average of $182.20 and a two-hundred day simple moving average of $189.81.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.08%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HSY shares. Royal Bank of Canada dropped their target price on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Piper Sandler increased their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays decreased their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $189.33.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in shares of Hershey by 86.7% during the 1st quarter. Tidal Investments LLC now owns 11,869 shares of the company’s stock worth $2,308,000 after buying an additional 5,511 shares in the last quarter. Comerica Bank boosted its stake in shares of Hershey by 3.4% in the first quarter. Comerica Bank now owns 49,456 shares of the company’s stock valued at $9,619,000 after buying an additional 1,607 shares in the last quarter. Cetera Investment Advisers grew its holdings in Hershey by 457.7% during the first quarter. Cetera Investment Advisers now owns 78,775 shares of the company’s stock worth $15,322,000 after acquiring an additional 64,651 shares during the period. Cetera Advisors LLC raised its position in Hershey by 28.1% in the first quarter. Cetera Advisors LLC now owns 14,146 shares of the company’s stock worth $2,751,000 after acquiring an additional 3,103 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Hershey by 884.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,037 shares of the company’s stock valued at $395,000 after acquiring an additional 1,830 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

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.