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

The Hershey Company (NYSE:HSY) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 7,340,000 shares, a growth of 31.8% from the July 31st total of 5,570,000 shares. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 4.6 days.

Insider Activity

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,538 shares of company stock valued at $667,793. Insiders own 0.34% of the company’s stock.

Institutional Trading of Hershey

Several hedge funds have recently added to or reduced their stakes in HSY. Capital Advisors Ltd. LLC increased its stake in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Hershey in the first quarter worth about $29,000. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Hershey in the second quarter worth about $29,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey in the first quarter worth about $35,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.7 %

Shares of HSY traded up $1.36 during trading hours on Friday, reaching $193.06. 1,325,864 shares of the stock traded hands, compared to its average volume of 1,318,059. The company has a market cap of $39.05 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 5.60 and a beta of 0.36. 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 has a 52 week low of $178.82 and a 52 week high of $219.92. The stock has a fifty day simple moving average of $192.13 and a 200 day simple moving average of $193.17.

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

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on HSY shares. Royal Bank of Canada reduced their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Bank of America reduced their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Citigroup cut shares of 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 report on Tuesday, August 27th. Finally, Barclays reduced their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $202.79.

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.