Hershey Reaches New 52-Week Low Following Insider Selling (HSY)
Shares of Hershey (NYSE:HSY) reached a new 52-week low on Thursday after an insider sold shares in the company, American Banking and Market News reports. The company traded as low as $88.74 and last traded at $88.85, with a volume of 993,356 shares traded. The stock had previously closed at $90.36.
Specifically, Insider Humberto P. Alfonso unloaded 16,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.17, for a total value of $1,474,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Hershey in a research note on Friday, July 25th. They now have a $97.00 price target on the stock, down previously from $99.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Hershey in a research note on Friday, July 25th. They now have a $99.00 price target on the stock, down previously from $101.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hershey in a research note on Friday, July 25th. They now have a $97.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.55.
The stock’s 50-day moving average is $95.8 and its 200-day moving average is $99.43. The company has a market cap of $19.763 billion and a price-to-earnings ratio of 24.42.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.76 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.76. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.72 earnings per share. Hershey’s revenue was up 4.6% compared to the same quarter last year. Analysts expect that Hershey will post $4.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Monday, August 25th will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, August 21st. This is a positive change from Hershey’s previous quarterly dividend of $0.49.
The Hershey Company is a producer of chocolate in North America and a provider in chocolate and sugar confectionery.
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