Could Hershey Co Change Direction After Today’s Bearish Options Activity?

 Could Hershey Co Change Direction After Today's Bearish Options Activity?

In today’s session Hershey Co (HSY) recorded an unusually high (582) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious HSY decrease. With 582 contracts traded and 28534 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: HSY161118P00095000 closed last at: $0.35 or 9.4% up. About 227,357 shares traded hands. Hershey Co (NYSE:HSY) has risen 9.48% since April 5, 2016 and is uptrending. It has outperformed by 7.52% the S&P500.

Hershey Co (NYSE:HSY) Ratings Coverage

Out of 15 analysts covering The Hershey Company (NYSE:HSY), 2 rate it a “Buy”, 3 “Sell”, while 10 “Hold”. This means 13% are positive. $105 is the highest target while $82 is the lowest. The $92.70 average target is -8.43% below today’s ($101.23) stock price. The Hershey Company has been the topic of 28 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Tuesday, January 26 by RBC Capital Markets. The rating was initiated by Bank of America on Tuesday, August 30 with “Underperform”. Argus Research upgraded the shares of HSY in a report on Wednesday, January 20 to “Buy” rating. The stock of Hershey Co (NYSE:HSY) has “Neutral” rating given on Monday, July 11 by Tigress Financial. The stock of Hershey Co (NYSE:HSY) has “Underperform” rating given on Wednesday, April 20 by Bank of America. The firm has “Market Perform” rating by Wells Fargo given on Wednesday, August 5. The stock of Hershey Co (NYSE:HSY) has “Hold” rating given on Monday, October 31 by Stifel Nicolaus. The firm earned “Buy” rating on Thursday, October 27 by Citigroup. Tigress Financial upgraded Hershey Co (NYSE:HSY) on Wednesday, March 9 to “Buy” rating. As per Wednesday, September 16, the company rating was upgraded by JP Morgan.

According to Zacks Investment Research, “The Hershey Company is a leading snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products. Hershey markets such well-known brands as Hershey’s, Reese’s, Hershey’s Kisses, Kit Kat, Almond Joy, Mounds, York, Jolly Rancher, Twizzlers, and Ice Breakers as well as innovative new products such as Swoops and Hershey’s S’mores. Hershey also offers a variety of snack products to consumers, including Hershey’s Cookies, Mauna Loa macadamia nuts, and Hershey’s Snack Barz.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.31, from 1.16 in 2016Q1. The ratio dived, as 60 funds sold all Hershey Co shares owned while 233 reduced positions. 74 funds bought stakes while 175 increased positions. They now own 111.39 million shares or 6.18% less from 118.72 million shares in 2016Q1.
Kidder Stephen W holds 2,900 shares or 0.13% of its portfolio. Tci Wealth Advsr owns 694 shares or 0.04% of their US portfolio. Macquarie Gp holds 0% of its portfolio in Hershey Co (NYSE:HSY) for 1,700 shares. Concannon Wealth Limited Liability Co holds 2 shares or 0% of its portfolio. Moreover, Everence Cap Mngmt Incorporated has 0.19% invested in Hershey Co (NYSE:HSY) for 5,314 shares. Balyasny Asset Mgmt Lc last reported 2,931 shares in the company. Nomura Asset owns 66,828 shares or 0.14% of their US portfolio. Oppenheimer, a New York-based fund reported 12,822 shares. Aperio Grp Ltd Liability Com holds 118,926 shares or 0.11% of its portfolio. Haverford Trust, a Pennsylvania-based fund reported 2,215 shares. Boys Arnold owns 1,865 shares or 0.04% of their US portfolio. Thrivent Financial For Lutherans accumulated 0.06% or 117,690 shares. Moreover, Samlyn Capital Llc has 0.5% invested in Hershey Co (NYSE:HSY) for 183,200 shares. Westwood Grp accumulated 200 shares or 0% of the stock. Mizuho Tru Limited holds 233,321 shares or 0.08% of its portfolio.

Insider Transactions: Since June 9, 2016, the stock had 0 insider purchases, and 9 insider sales for $5.26 million net activity. 6,448 shares were sold by Idrovo Javier H, worth $644,800 on Friday, October 28. Another trade for 13,568 shares valued at $1.30 million was made by WALLING KEVIN R on Monday, June 13. 1,100 shares were sold by Wege D Michael, worth $106,157. On Thursday, June 30 the insider Buck Michele sold $1.45 million.

The Hershey Company is a producer of chocolate and non-chocolate confectionery. The company has a market cap of $21.45 billion. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes. It has a 32.05 P/E ratio. The Firm operates through two divisions: North America, and International and Other.

HSY Company Profile

The Hershey Company, incorporated on October 24, 1927, is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes. The Firm operates through two divisions: North America, and International and Other. The Firm markets, sells and distributes its products under approximately 80 brand names in over 70 countries across the world. The Company’s manufacturing facilities are located in Hershey and Lancaster, Pennsylvania; Monterrey, Mexico, and Stuarts Draft, Virginia. The United States, Canada and Mexico facilities support its North America segment, while the China and Malaysia facilities serve its International and Other segment. The Company’s clients are wholesale distributors, chain grocery stores, mass merchandisers, chain drug stores, vending companies, wholesale clubs, convenience stores, dollar stores, concessionaires and department stores.

More recent Hershey Co (NYSE:HSY) news were published by: Philly.com which released: “Hershey Co. CEO Bilbrey to resign; more turmoil at top of rich charity” on October 14, 2016. Also Investorplace.com published the news titled: “Hershey Co (HSY) Stock Looks Sweet After Earnings Beat” on October 28, 2016. Valuewalk.com‘s news article titled: “Hershey Co Rises On Earnings, AbbVie Inc Declines On Sales Miss” with publication date: October 28, 2016 was also an interesting one.

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