Shares of Hershey Co. (NYSE:HSY) have earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $101.38.
Several equities research analysts recently commented on the company. S&P Equity Research upgraded Hershey from a “hold” rating to a “buy” rating and upped their target price for the company from $94.00 to $126.00 in a research report on Tuesday, July 5th. Argus lowered Hershey from a “buy” rating to a “hold” rating and upped their target price for the company from $97.14 to $111.95 in a research report on Tuesday, July 5th. They noted that the move was a valuation call. Goldman Sachs Group Inc. restated a “neutral” rating and set a $89.00 target price on shares of Hershey in a research report on Saturday, July 2nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Hershey in a research report on Saturday, July 2nd. Finally, Vetr lowered Hershey from a “buy” rating to a “hold” rating and set a $115.74 target price on the stock. in a research report on Tuesday, August 30th.
In related news, SVP D Michael Wege sold 1,100 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $111.41, for a total transaction of $122,551.00. Following the completion of the sale, the senior vice president now directly owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Orrstown Financial Services Inc. increased its stake in shares of Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares during the last quarter. Grisanti Capital Management LLC purchased a new stake in Hershey during the second quarter worth about $138,000. First Personal Financial Services purchased a new stake in Hershey during the second quarter worth about $150,000. Van ECK Associates Corp increased its stake in Hershey by 8.3% in the second quarter. Van ECK Associates Corp now owns 1,408 shares of the company’s stock worth $160,000 after buying an additional 108 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Hershey during the second quarter worth about $201,000. 53.11% of the stock is owned by institutional investors.
Shares of Hershey (NYSE:HSY) opened at 95.60 on Monday. The company has a market cap of $20.38 billion, a PE ratio of 27.99 and a beta of 0.20. The firm’s 50-day moving average price is $102.10 and its 200-day moving average price is $98.95. Hershey has a 12 month low of $82.42 and a 12 month high of $117.79.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The company earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Equities analysts predict that Hershey will post $4.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were given a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Hershey’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Tuesday, August 23rd. Hershey’s dividend payout ratio (DPR) is presently 72.22%.
Hershey Company Profile
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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