Brokerages forecast that Hershey Co (NYSE:HSY) will post earnings of $1.55 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 $1.50 and the highest estimate coming in at $1.60. Hershey posted earnings of $1.33 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.5%. The firm is scheduled to report its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Hershey will report full year earnings of $5.36 per share for the current year, with EPS estimates ranging from $5.34 to $5.39. For the next year, analysts forecast that the firm will report earnings of $5.65 per share, with EPS estimates ranging from $5.50 to $5.81. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Hershey.
Hershey (NYSE:HSY) last released its earnings results on Thursday, July 26th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.04. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS.
HSY has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Hershey from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. Zacks Investment Research downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Consumer Edge downgraded shares of Hershey from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 9th. Credit Suisse Group increased their price objective on shares of Hershey from $80.00 to $85.00 and gave the stock a “sell” rating in a research note on Friday, July 27th. Finally, Piper Jaffray Companies set a $100.00 price objective on shares of Hershey and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Five research 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. Hershey has an average rating of “Hold” and an average price target of $102.35.
HSY stock traded up $1.78 during trading hours on Wednesday, reaching $106.02. 1,404,900 shares of the stock were exchanged, compared to its average volume of 1,236,522. The stock has a market cap of $21.69 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.05. Hershey has a 12 month low of $89.10 and a 12 month high of $115.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be paid a $0.722 dividend. This is an increase from Hershey’s previous quarterly dividend of $0.66. This represents a $2.89 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, August 23rd. Hershey’s dividend payout ratio (DPR) is 60.71%.
In related news, SVP Kevin R. Walling sold 30,835 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $101.18, for a total value of $3,119,885.30. Following the completion of the sale, the senior vice president now directly owns 57,611 shares in the company, valued at approximately $5,829,080.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $92.26, for a total transaction of $138,390.00. Following the completion of the sale, the insider now owns 175,394 shares of the company’s stock, valued at $16,181,850.44. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock valued at $3,411,125 over the last quarter. 0.87% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Hershey by 42.5% in the 2nd quarter. FMR LLC now owns 5,089,056 shares of the company’s stock valued at $473,587,000 after purchasing an additional 1,518,053 shares during the last quarter. Schroder Investment Management Group lifted its position in 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 lifted its position in 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. Scharf Investments LLC lifted its position in Hershey by 19.5% during the second quarter. Scharf Investments LLC now owns 1,481,324 shares of the company’s stock worth $137,849,000 after acquiring an additional 241,662 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Hershey by 0.9% during the second quarter. Bank of America Corp DE now owns 1,166,949 shares of the company’s stock worth $108,596,000 after acquiring an additional 10,670 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.