The Hershey Company (NYSE:HSY) Short Interest Down 5.7% in November

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

Hershey Stock Performance

NYSE HSY opened at $172.46 on Thursday. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 4.24 and a beta of 0.37. The business’s 50 day moving average is $179.25 and its two-hundred day moving average is $187.95. Hershey has a 12-month low of $168.16 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.

Hershey Dividend Announcement

The business also recently announced 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 was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.18%. Hershey’s payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HSY. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Barclays reduced their price target 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. Piper Sandler lifted their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Finally, Jefferies Financial Group decreased their price target 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. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.17.

Hedge Funds Weigh In On Hershey

A number of institutional investors and hedge funds have recently made changes to their positions in HSY. Franklin Resources Inc. raised its holdings in Hershey by 95.4% during the third quarter. Franklin Resources Inc. now owns 218,055 shares of the company’s stock worth $40,558,000 after purchasing an additional 106,450 shares during the last quarter. Tidal Investments LLC increased its position in shares of Hershey by 14.9% in the third quarter. Tidal Investments LLC now owns 8,360 shares of the company’s stock valued at $1,603,000 after buying an additional 1,083 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Hershey by 2.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 116,432 shares of the company’s stock worth $22,329,000 after buying an additional 2,391 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of Hershey by 2.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 5,697 shares of the company’s stock worth $1,093,000 after buying an additional 153 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in Hershey by 3.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 8,249 shares of the company’s stock valued at $1,582,000 after acquiring an additional 250 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

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.