The Hershey Company Plans Quarterly Dividend of $1.37 (NYSE:HSY)

The Hershey Company (NYSE:HSY) declared a quarterly dividend on Thursday, May 1st, RTT News reports. Shareholders of record on Friday, May 16th will be given a dividend of 1.37 per share on Monday, June 16th. This represents a $5.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, May 16th.

Hershey has raised its dividend by an average of 17.1% per year over the last three years and has raised its dividend every year for the last 15 years. Hershey has a payout ratio of 85.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Hershey to earn $6.83 per share next year, which means the company should continue to be able to cover its $5.48 annual dividend with an expected future payout ratio of 80.2%.

Hershey Stock Down 2.5%

Shares of HSY opened at $163.35 on Wednesday. The company’s 50-day simple moving average is $167.69 and its 200-day simple moving average is $168.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. Hershey has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market capitalization of $33.06 billion, a PE ratio of 14.99, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the firm earned $3.07 EPS. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. Analysts forecast that Hershey will post 6.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. UBS Group decreased their price objective on Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. DA Davidson upped their target price on shares of Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.40.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.