Wall Street analysts expect Hershey Co (NYSE:HSY) to report $1.76 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Hershey’s earnings. The highest sales estimate is $1.77 billion and the lowest is $1.75 billion. Hershey reported sales of $1.75 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The firm is scheduled to report its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Hershey will report full-year sales of $7.94 billion for the current fiscal year, with estimates ranging from $7.91 billion to $8.00 billion. For the next financial year, analysts anticipate that the business will report sales of $8.05 billion, with estimates ranging from $8.02 billion to $8.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Hershey.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.11. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share.
A number of equities analysts have recently issued reports on HSY shares. Credit Suisse Group set a $123.00 price target on Hershey and gave the stock a “hold” rating in a research report on Friday, April 26th. ValuEngine raised Hershey from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Evercore ISI started coverage on shares of Hershey in a report on Tuesday. They set an “in-line” rating and a $145.00 price objective on the stock. Finally, UBS Group set a $100.00 price objective on shares of Hershey and gave the company a “sell” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $116.50.
In other Hershey news, major shareholder Hershey Trust Co Trustee In Tr sold 617,613 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $128.09, for a total value of $79,110,049.17. Following the sale, the insider now directly owns 1,199,988 shares of the company’s stock, valued at $153,706,462.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil purchased 1,000 shares of the stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $129.14 per share, for a total transaction of $129,140.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $129,140. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,100 shares of company stock worth $401,990 and have sold 3,628,751 shares worth $457,274,702. 0.41% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Hershey by 2.8% in the first quarter. BlackRock Inc. now owns 14,146,007 shares of the company’s stock valued at $1,624,385,000 after purchasing an additional 381,334 shares during the last quarter. Vanguard Group Inc boosted its holdings in Hershey by 1.1% in the third quarter. Vanguard Group Inc now owns 10,862,696 shares of the company’s stock valued at $1,107,995,000 after purchasing an additional 116,765 shares during the last quarter. FMR LLC boosted its holdings in Hershey by 9.8% in the fourth quarter. FMR LLC now owns 6,142,122 shares of the company’s stock valued at $658,314,000 after purchasing an additional 550,341 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Hershey by 10,179.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock valued at $32,000 after purchasing an additional 3,423,036 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Hershey by 12.7% in the first quarter. Renaissance Technologies LLC now owns 2,650,764 shares of the company’s stock valued at $304,387,000 after purchasing an additional 297,800 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors.
Shares of HSY stock traded up $1.40 during trading hours on Friday, reaching $138.22. 726,701 shares of the company’s stock were exchanged, compared to its average volume of 1,228,581. The company has a market cap of $28.44 billion, a PE ratio of 25.79, a PEG ratio of 3.03 and a beta of 0.11. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 2.27. Hershey has a fifty-two week low of $89.84 and a fifty-two week high of $139.34.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, May 23rd. Hershey’s dividend payout ratio (DPR) is presently 53.92%.
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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