Hershey Sees Unusually Large Options Volume (NYSE:HSY)

The Hershey Company (NYSE:HSY) was the target of some unusual options trading activity on Tuesday. Investors bought 25,958 call options on the company. This represents an increase of approximately 332% compared to the typical volume of 6,012 call options.

Hedge Funds Weigh In On Hershey

Several institutional investors have recently bought and sold shares of HSY. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the third quarter valued at $25,000. Capital Advisors Ltd. LLC lifted its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in Hershey by 55.0% during 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 during the period. OFI Invest Asset Management purchased a new position in shares of Hershey in the second quarter worth about $29,000. Finally, Gradient Investments LLC raised its position in shares of Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE HSY opened at $187.16 on Wednesday. The company has a market capitalization of $37.87 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. Hershey has a 52-week low of $168.16 and a 52-week high of $211.92. The company has a 50-day simple moving average of $180.67 and a 200 day simple moving average of $188.69.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.93%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HSY shares. Redburn Atlantic began coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus decreased their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $187.94.

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.