The Hershey Company (NYSE:HSY) Short Interest Update

The Hershey Company (NYSE:HSY) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 6,010,000 shares, a decline of 18.1% from the August 15th total of 7,340,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is currently 3.9 days.

Hershey Stock Performance

Shares of HSY opened at $199.28 on Wednesday. The company’s 50 day simple moving average is $195.76 and its 200-day simple moving average is $193.91. The firm has a market cap of $40.30 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. Hershey has a 12-month low of $178.82 and a 12-month high of $213.72. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, equities analysts predict that Hershey will post 9.5 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,538 shares of company stock valued at $667,793. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HSY. Raleigh Capital Management Inc. lifted its holdings in shares of Hershey by 20.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after purchasing an additional 54 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Hershey by 13.3% in the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after acquiring an additional 57 shares in the last quarter. Wesbanco Bank Inc. increased its stake in shares of Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares during the period. Finally, Brighton Jones LLC raised its holdings in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HSY. Royal Bank of Canada reduced their price target on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Piper Sandler restated a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Sanford C. Bernstein lowered their target price on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average price target of $203.21.

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.