Wall Street analysts expect Hershey Co (NYSE:HSY) to report earnings of $1.27 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Hershey’s earnings, with the lowest EPS estimate coming in at $1.24 and the highest estimate coming in at $1.31. Hershey reported earnings of $1.03 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.3%. The firm is expected to issue its next quarterly earnings report on Thursday, February 7th.
According to Zacks, analysts expect that Hershey will report full-year earnings of $5.37 per share for the current year, with EPS estimates ranging from $5.34 to $5.41. For the next fiscal year, analysts expect that the firm will report earnings of $5.66 per share, with EPS estimates ranging from $5.51 to $5.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Hershey.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 25th. The company reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Hershey had a return on equity of 102.30% and a net margin of 13.20%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion.
Several equities analysts have recently weighed in on HSY shares. Stifel Nicolaus increased their price target on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, July 27th. Piper Jaffray Companies raised their price target on Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a report on Friday, July 27th. Credit Suisse Group raised their price target on Hershey from $80.00 to $85.00 and gave the company a “sell” rating in a report on Friday, July 27th. Morgan Stanley raised their price target on Hershey from $93.00 to $98.00 and gave the company an “underweight” rating in a report on Friday, July 27th. Finally, ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $103.81.
Shares of NYSE HSY traded up $1.51 during midday trading on Friday, hitting $108.58. 1,659,250 shares of the stock traded hands, compared to its average volume of 1,346,017. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.37 and a beta of 0.17. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.01 and a quick ratio of 0.69. Hershey has a one year low of $89.10 and a one year high of $115.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be given a $0.722 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.89 annualized dividend and a yield of 2.66%. Hershey’s dividend payout ratio is currently 60.71%.
In other news, insider Todd W. Tillemans acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $107.32 per share, with a total value of $214,640.00. Following the completion of the purchase, the insider now directly owns 10,878 shares in the company, valued at $1,167,426.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin R. Walling sold 30,835 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the completion of the sale, the senior vice president now directly owns 57,611 shares of the company’s stock, valued at approximately $5,829,080.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,716 shares of company stock valued at $12,690,499. 0.92% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HSY. BlackRock Inc. raised its position in shares of Hershey by 11.5% during the 3rd quarter. BlackRock Inc. now owns 12,694,041 shares of the company’s stock worth $1,294,795,000 after purchasing an additional 1,311,392 shares during the last quarter. FMR LLC grew its position in shares of Hershey by 9.9% during the third quarter. FMR LLC now owns 5,591,781 shares of the company’s stock worth $570,362,000 after acquiring an additional 502,725 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Hershey by 11.3% during the second quarter. Schroder Investment Management Group now owns 2,374,353 shares of the company’s stock worth $223,616,000 after acquiring an additional 240,286 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Hershey by 2.3% during the second quarter. Renaissance Technologies LLC now owns 2,188,000 shares of the company’s stock worth $203,615,000 after acquiring an additional 48,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Hershey by 51.2% during the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock worth $203,829,000 after acquiring an additional 676,300 shares during the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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