Hillshire Brands Sees Unusually-High Trading Volume After Analyst Upgrade (HSH)
Shares of Hillshire Brands (NYSE:HSH) saw unusually-high trading volume on Tuesday after BMO Capital Markets raised their price target on the stock from $42.00 to $44.00, AnalystRatingsNetwork.com reports. Approximately 7,927,635 shares were traded during mid-day trading, an increase of 243% from the previous session’s volume of 2,311,803 shares.The stock last traded at $36.74 and had previously closed at $35.76.
HSH has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Hillshire Brands from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Hillshire Brands from an “overweight” rating to a “neutral” rating in a research note on Tuesday. They now have a $36.00 price target on the stock, down previously from $39.00. Finally, analysts at TheStreet downgraded shares of Hillshire Brands from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.08.
The stock’s 50-day moving average is $36.16 and its 200-day moving average is $34.86. The company has a market cap of $4.484 billion and a P/E ratio of 19.56. Hillshire Brands also was the recipient of some unusual options trading on Monday. Traders purchased 18,103 call options on the stock. This is an increase of 1,838% compared to the typical daily volume of 934 call options.
Hillshire Brands (NYSE:HSH) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.10. The company had revenue of $955.00 million for the quarter, compared to the consensus estimate of $939.03 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Hillshire Brands will post $1.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 8th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, May 29th.
The Hillshire Brands Company is a manufacturer and marketer of food products. The Company’s portfolio includes brands, such as Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Sara Lee frozen bakery and Chef Pierre pies, as well as artisanal brands Aidells and Gallo Salame.
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