Hershey Company (The) (HSY) Announces $0.66 Quarterly Dividend
Hershey Company (The) (NYSE:HSY) declared a quarterly dividend on Friday, October 6th, RTT News reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.656 per share on Friday, December 15th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.41%.
Hershey Company (The) has increased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Hershey Company (The) has a payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hershey Company (The) to earn $5.19 per share next year, which means the company should continue to be able to cover its $2.62 annual dividend with an expected future payout ratio of 50.5%.
Shares of Hershey Company (NYSE:HSY) traded up 0.06% during midday trading on Friday, hitting $108.99. 27,578 shares of the company’s stock traded hands. The stock has a market cap of $23.15 billion, a P/E ratio of 34.82 and a beta of 0.39. Hershey Company has a 52 week low of $94.03 and a 52 week high of $116.49. The company has a 50 day moving average of $107.48 and a 200 day moving average of $108.44.
Hershey Company (The) (NYSE:HSY) last released its quarterly earnings data on Wednesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.19. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities analysts forecast that Hershey Company will post $4.82 EPS for the current fiscal year.
A number of brokerages have recently weighed in on HSY. Susquehanna Bancshares Inc set a $115.00 price target on Hershey Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 17th. BidaskClub downgraded Hershey Company (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Hershey Company (The) from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Monday. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $116.00 target price (down previously from $119.00) on shares of Hershey Company (The) in a report on Wednesday, June 28th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $121.00 target price on shares of Hershey Company (The) in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hershey Company (The) presently has an average rating of “Hold” and a consensus target price of $111.55.
In other news, SVP D Michael Wege sold 1,100 shares of Hershey Company (The) stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $105.45, for a total value of $115,995.00. Following the completion of the transaction, the senior vice president now directly owns 27,866 shares of the company’s stock, valued at approximately $2,938,469.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michele Buck sold 400 shares of Hershey Company (The) stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the transaction, the insider now directly owns 166,097 shares of the company’s stock, valued at $17,938,476. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,504,500 shares of company stock valued at $477,527,458. 0.92% of the stock is owned by corporate insiders.
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About Hershey Company (The)
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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