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

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

Hedge Funds Weigh In On Hershey

A number of hedge funds and other institutional investors have recently modified their holdings of HSY. Lantz Financial LLC bought a new position in Hershey during the 2nd quarter worth approximately $1,841,000. Blue Trust Inc. grew its position in shares of Hershey by 28.8% in the 2nd quarter. Blue Trust Inc. now owns 813 shares of the company's stock worth $158,000 after buying an additional 182 shares during the last quarter. Raymond James & Associates grew its position in shares of Hershey by 8.0% in the 2nd quarter. Raymond James & Associates now owns 273,700 shares of the company's stock worth $50,314,000 after buying an additional 20,164 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Hershey by 5.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 42,011 shares of the company's stock valued at $7,723,000 after purchasing an additional 2,057 shares during the period. Finally, Apollon Wealth Management LLC lifted its stake in shares of Hershey by 22.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 9,707 shares of the company's stock valued at $1,784,000 after purchasing an additional 1,786 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of NYSE:HSY traded down $0.59 during midday trading on Tuesday, reaching $177.61. 1,834,503 shares of the company traded hands, compared to its average volume of 1,823,029. Hershey has a 12 month low of $168.16 and a 12 month high of $211.92. The firm's fifty day moving average price is $179.54 and its two-hundred day moving average price is $188.06. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, November 18th. Hershey's payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

HSY has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of Hershey from $165.00 to $168.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Barclays cut their target price on shares of Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. UBS Group cut shares of Hershey from a "buy" rating to a "neutral" rating and lowered their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Wells Fargo & Company cut shares of Hershey from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $175.00 to $160.00 in a report on Thursday, December 12th. Finally, Mizuho lowered their price target on shares of Hershey from $200.00 to $180.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $185.17.

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.