Brokerages Expect Hershey Company (The) (HSY) Will Announce Earnings of $0.91 Per Share

Wall Street brokerages expect Hershey Company (The) (NYSE:HSY) to announce $0.91 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Hershey Company (The)’s earnings, with estimates ranging from $0.89 to $0.94. Hershey Company (The) posted earnings of $0.85 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.1%. The firm is expected to report its next earnings report on Thursday, July 27th.

According to Zacks, analysts expect that Hershey Company (The) will report full-year earnings of $4.80 per share for the current year, with EPS estimates ranging from $4.79 to $4.81. For the next fiscal year, analysts forecast that the company will report earnings of $5.20 per share, with EPS estimates ranging from $5.15 to $5.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Hershey Company (The).

Hershey Company (The) (NYSE:HSY) last issued its quarterly earnings data on Wednesday, April 26th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.89 billion. Hershey Company (The) had a net margin of 8.21% and a return on equity of 117.02%. Hershey Company (The)’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS.

HSY has been the topic of several research reports. Credit Suisse Group reiterated an “outperform” rating on shares of Hershey Company (The) in a research report on Sunday, April 23rd. Argus upgraded shares of Hershey Company (The) from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Thursday, February 16th. Deutsche Bank AG reduced their price target on shares of Hershey Company (The) from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Morgan Stanley upped their price target on shares of Hershey Company (The) from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, February 27th. Finally, Zacks Investment Research downgraded shares of Hershey Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $108.02.

Shares of Hershey Company (HSY) traded down 2.65% during mid-day trading on Friday, reaching $111.83. 2,287,261 shares of the company traded hands. The stock has a market capitalization of $23.80 billion, a PE ratio of 39.14 and a beta of 0.41. Hershey Company has a 52-week low of $94.03 and a 52-week high of $117.79. The stock’s 50 day moving average is $111.34 and its 200 day moving average is $107.28.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 25th were paid a dividend of $0.618 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $2.47 dividend on an annualized basis and a yield of 2.21%. Hershey Company (The)’s payout ratio is 86.06%.

In related news, SVP Terence L. O’day sold 37,875 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $113.88, for a total transaction of $4,313,205.00. Following the completion of the sale, the senior vice president now directly owns 75,303 shares of the company’s stock, valued at approximately $8,575,505.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin R. Walling sold 22,065 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $115.06, for a total value of $2,538,798.90. Following the sale, the senior vice president now directly owns 54,789 shares of the company’s stock, valued at $6,304,022.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,010 shares of company stock valued at $11,658,991. 0.92% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in Hershey Company (The) during the fourth quarter worth about $144,000. Invictus RG acquired a new stake in Hershey Company (The) during the first quarter worth about $155,000. YorkBridge Wealth Partners LLC boosted its stake in Hershey Company (The) by 43.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock worth $168,000 after buying an additional 475 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in Hershey Company (The) by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 1,681 shares of the company’s stock worth $184,000 after buying an additional 14 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in Hershey Company (The) by 9.5% in the first quarter. Johnson Financial Group Inc. now owns 1,733 shares of the company’s stock worth $189,000 after buying an additional 150 shares during the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

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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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