Brokerages predict that Hershey Co (NYSE:HSY) will report $1.95 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Hershey’s earnings, with estimates ranging from $1.93 billion to $1.97 billion. Hershey posted sales of $1.88 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is scheduled to report its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Hershey will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $7.92 billion to $7.99 billion. For the next fiscal year, analysts expect that the business will report sales of $8.09 billion per share, with estimates ranging from $8.03 billion to $8.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Hershey.
Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.03). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Hershey had a return on equity of 116.74% and a net margin of 10.42%. Hershey’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.17 earnings per share.
HSY has been the topic of several research analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $122.00 target price on shares of Hershey in a research note on Friday, December 22nd. Goldman Sachs Group cut Hershey from a “neutral” rating to a “sell” rating and set a $101.00 target price on the stock. in a research note on Tuesday, January 16th. Zacks Investment Research cut Hershey from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. UBS Group reduced their target price on Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Finally, Berenberg Bank raised Hershey from a “sell” rating to a “hold” rating and set a $90.00 target price on the stock in a research note on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Hershey presently has a consensus rating of “Hold” and a consensus price target of $111.44.
In related news, insider Michele Buck sold 400 shares of Hershey stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total transaction of $45,980.00. Following the sale, the insider now directly owns 164,097 shares in the company, valued at $18,862,950.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,200 shares of company stock worth $133,800 over the last 90 days. 0.92% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSY. BlackRock Inc. boosted its holdings in Hershey by 22.6% in the fourth quarter. BlackRock Inc. now owns 12,459,680 shares of the company’s stock worth $1,414,299,000 after acquiring an additional 2,299,115 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Hershey by 15.4% in the third quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock worth $476,949,000 after acquiring an additional 582,715 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Hershey by 10.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,033,553 shares of the company’s stock worth $230,830,000 after acquiring an additional 194,263 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Hershey by 45.4% in the fourth quarter. APG Asset Management N.V. now owns 1,885,679 shares of the company’s stock worth $178,251,000 after acquiring an additional 588,500 shares in the last quarter. Finally, Marathon Asset Management LLP boosted its holdings in Hershey by 39.2% in the fourth quarter. Marathon Asset Management LLP now owns 1,694,259 shares of the company’s stock worth $192,322,000 after acquiring an additional 477,539 shares in the last quarter. Institutional investors own 52.54% of the company’s stock.
Hershey (HSY) opened at $100.71 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.96 and a quick ratio of 0.60. Hershey has a 12 month low of $97.62 and a 12 month high of $116.49. The company has a market capitalization of $21,220.00, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 2.17 and a beta of 0.26.
Hershey announced that its board has authorized a stock buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, February 23rd will be given a dividend of $0.656 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.62 annualized dividend and a dividend yield of 2.61%. Hershey’s dividend payout ratio is presently 75.50%.
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Hershey Company Profile
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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