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Hillshire Brands (NYSE:HSH) shares hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company, AnalystRatingsNetwork reports. The stock traded as high as $62.93 and last traded at $62.88, with a volume of 448,785 shares. The stock had previously closed at $62.79.

The newly announced dividend is scheduled for Tuesday, October 7th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.11%.

A number of analysts have recently weighed in on HSH shares. Analysts at Credit Suisse downgraded shares of Hillshire Brands from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 10th. Separately, analysts at Wells Fargo & Co. downgraded shares of Hillshire Brands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 10th. Finally, analysts at Sanford C. Bernstein downgraded shares of Hillshire Brands from an “outperform” rating to a “market perform” rating in a research note on Friday, May 30th. They now have a $6.10 price target on the stock. Nine investment analysts have rated the stock with a hold rating, Hillshire Brands presently has an average rating of “Hold” and a consensus price target of $35.18.

The stock’s 50-day moving average is $62.78 and its 200-day moving average is $47.32. The company has a market cap of $7.711 billion and a price-to-earnings ratio of 36.72.

Hillshire Brands (NYSE:HSH) last announced its earnings results on Wednesday, August 13th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $994.10 million. On average, analysts predict that Hillshire Brands will post $1.92 earnings per share for the current fiscal year.

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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