The Hershey Company (NYSE:HSY) Short Interest Up 24.3% in May

The Hershey Company (NYSE:HSY) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 10,220,000 shares, a growth of 24.3% from the April 30th total of 8,220,000 shares. Based on an average daily trading volume, of 1,800,000 shares, the short-interest ratio is currently 5.7 days. Currently, 5.1% of the shares of the company are sold short.

Hershey Stock Performance

NYSE:HSY opened at $161.46 on Thursday. The firm has a market capitalization of $32.71 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The business’s fifty day moving average price is $163.49 and its 200 day moving average price is $166.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. Hershey has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.07 earnings per share. On average, sell-side analysts anticipate that Hershey will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.39%. Hershey’s dividend payout ratio (DPR) is 67.57%.

Wall Street Analyst Weigh In

HSY has been the topic of several recent research reports. UBS Group lowered their target price on Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Mizuho decreased their price target on Hershey from $167.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Citigroup decreased their price target on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus decreased their price target on Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley decreased their price target on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.84.

Insider Buying and Selling at Hershey

In related news, CEO Michele Buck sold 31,210 shares of Hershey stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer now owns 2,994 shares of the company’s stock, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Hershey

Hedge funds have recently made changes to their positions in the business. Elevate Capital Advisors LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $1,939,000. Ethos Financial Group LLC increased its position in Hershey by 59.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock worth $671,000 after purchasing an additional 1,483 shares during the period. DJE Kapital AG acquired a new position in Hershey during the 4th quarter worth approximately $1,040,000. Willis Investment Counsel increased its position in Hershey by 46.2% during the 4th quarter. Willis Investment Counsel now owns 140,579 shares of the company’s stock worth $23,807,000 after purchasing an additional 44,431 shares during the period. Finally, Old North State Wealth Management LLC acquired a new position in Hershey during the 4th quarter worth approximately $513,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

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.