Equities analysts forecast that Hershey Co (NYSE:HSY) will post sales of $2.13 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Hershey’s earnings, with the highest sales estimate coming in at $2.14 billion and the lowest estimate coming in at $2.12 billion. Hershey reported sales of $2.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The company is scheduled to report its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Hershey will report full-year sales of $7.96 billion for the current year, with estimates ranging from $7.93 billion to $7.98 billion. For the next year, analysts forecast that the company will post sales of $8.10 billion, with estimates ranging from $8.05 billion to $8.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Hershey.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.13. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Hershey had a net margin of 15.51% and a return on equity of 83.29%. Hershey’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Stifel Nicolaus upped their price target on shares of Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine raised shares of Hershey from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Credit Suisse Group upped their price target on shares of Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Goldman Sachs Group raised shares of Hershey from a “sell” rating to a “neutral” rating and upped their price target for the stock from $86.00 to $142.00 in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $138.71.
NYSE:HSY opened at $155.36 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.48 and a current ratio of 0.88. Hershey has a fifty-two week low of $97.91 and a fifty-two week high of $156.69. The firm has a market cap of $32.59 billion, a PE ratio of 28.99, a PEG ratio of 3.38 and a beta of 0.09. The stock’s fifty day moving average is $144.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 23rd will be given a $0.773 dividend. The ex-dividend date is Thursday, August 22nd. This is a positive change from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 annualized dividend and a dividend yield of 1.99%. Hershey’s payout ratio is currently 53.92%.
In other Hershey news, Director Anthony J. Palmer sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total value of $652,150.00. Following the transaction, the director now directly owns 10,014 shares in the company, valued at approximately $1,306,126.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 617,613 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $128.09, for a total transaction of $79,110,049.17. Following the completion of the transaction, the insider now owns 1,199,988 shares in the company, valued at $153,706,462.92. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,100 shares of company stock worth $401,990 and sold 1,278,949 shares worth $165,753,309. 0.41% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new position in Hershey in the 2nd quarter valued at about $25,000. Berman Capital Advisors LLC lifted its holdings in Hershey by 172.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Trustcore Financial Services LLC purchased a new position in Hershey in the 1st quarter valued at about $29,000. Bremer Bank National Association purchased a new position in Hershey in the 1st quarter valued at about $34,000. Finally, First Interstate Bank purchased a new position in Hershey in the 2nd quarter valued at about $38,000. Institutional investors own 53.89% of the company’s stock.
Hershey Company Profile
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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