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

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

Analyst Upgrades and Downgrades

HSY has been the subject of several research reports. Stifel Nicolaus reduced their price target on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. DA Davidson increased their price target on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Sanford C. Bernstein lifted their price objective on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Finally, Bernstein Bank decreased their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, Hershey presently has an average rating of "Hold" and a consensus price target of $158.84.

Insider Activity at Hershey

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSY. Montag & Caldwell LLC bought a new stake in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of Hershey during the fourth quarter worth $25,000. Crowley Wealth Management Inc. acquired a new stake in Hershey in the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC acquired a new stake in Hershey during the fourth quarter worth approximately $28,000. Finally, Proffitt & Goodson Inc. bought a new position in shares of Hershey in the first quarter worth $28,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

Shares of NYSE HSY traded up $1.25 during midday trading on Thursday, reaching $162.73. 1,401,273 shares of the company traded hands, compared to its average volume of 1,778,120. The stock's 50-day simple moving average is $163.49 and its 200-day simple moving average is $166.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. Hershey has a 12 month low of $140.13 and a 12 month high of $208.03. The firm has a market cap of $32.97 billion, a PE ratio of 14.93, a PEG ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The firm's revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.07 earnings per share. As a group, equities analysts anticipate that Hershey will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.37%. Hershey's dividend payout ratio (DPR) is presently 67.57%.

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.