Short Interest in The Hershey Company (NYSE:HSY) Rises By 14.4%

The Hershey Company (NYSE:HSY) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,300,000 shares, an increase of 14.4% from the March 15th total of 3,760,000 shares. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Buying and Selling

In related news, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the transaction, the insider now directly owns 14,770 shares of the company’s stock, valued at $2,833,624.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the transaction, the insider now directly owns 14,770 shares of the company’s stock, valued at $2,833,624.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $197.90, for a total value of $296,850.00. Following the completion of the sale, the chief financial officer now owns 40,228 shares of the company’s stock, valued at $7,961,121.20. The disclosure for this sale can be found here. Insiders have sold a total of 5,518 shares of company stock valued at $1,066,414 over the last ninety days. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HSY. Reliant Investment Management LLC purchased a new stake in Hershey during the 4th quarter worth about $4,173,000. Rheos Capital Works Inc. lifted its holdings in Hershey by 21.4% during the 3rd quarter. Rheos Capital Works Inc. now owns 152,900 shares of the company’s stock worth $30,592,000 after purchasing an additional 27,000 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Hershey during the 4th quarter worth about $1,603,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Hershey by 94.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,480 shares of the company’s stock worth $3,237,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Fulcrum Capital LLC lifted its holdings in Hershey by 35.9% during the 4th quarter. Fulcrum Capital LLC now owns 37,305 shares of the company’s stock worth $6,955,000 after purchasing an additional 9,858 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY stock traded up $0.75 during midday trading on Tuesday, hitting $183.32. The company’s stock had a trading volume of 1,620,937 shares, compared to its average volume of 1,995,545. The stock’s 50-day moving average price is $193.10 and its 200 day moving average price is $191.17. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. Hershey has a 1 year low of $178.82 and a 1 year high of $276.88. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.85 and a beta of 0.34.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Hershey will post 9.6 EPS for the current year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, February 16th. This is a boost from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio is currently 60.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price objective on Hershey from $200.00 to $179.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company boosted their price objective on Hershey from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Citigroup decreased their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Sanford C. Bernstein upgraded Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $223.81.

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.