Hershey Co. (NYSE:HSY) issued an update on its FY16 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.24-4.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.26.
Hershey Co. (NYSE:HSY) opened at 95.65 on Friday. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 28.01 and a beta of 0.23. The firm’s 50-day moving average price is $97.63 and its 200-day moving average price is $99.15. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
Hershey (NYSE:HSY) last released its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The business earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Hershey Co. will post $4.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were paid a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, August 23rd. This is a boost from Hershey’s previous quarterly dividend of $0.58. Hershey’s dividend payout ratio (DPR) is presently 72.22%.
HSY has been the subject of a number of analyst reports. Deutsche Bank AG cut their price target on shares of Hershey from $105.00 to $91.00 and set a hold rating for the company in a research note on Tuesday, July 26th. Zacks Investment Research cut shares of Hershey from a hold rating to a sell rating in a research note on Wednesday, July 13th. Argus cut shares of Hershey from a buy rating to a hold rating and raised their price target for the stock from $97.14 to $111.95 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. RBC Capital Markets restated a sector perform rating and set a $105.00 price target (up previously from $92.00) on shares of Hershey in a research note on Wednesday, July 27th. Finally, Vetr cut shares of Hershey from a strong-buy rating to a buy rating and set a $108.33 price target for the company. in a research note on Tuesday, September 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction on Monday, August 15th. The shares were sold at an average price of $111.41, for a total transaction of $122,551.00. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.
Several institutional investors have recently made changes to their positions in HSY. Janus Capital Management LLC boosted its position in shares of Hershey by 1.2% in the second quarter. Janus Capital Management LLC now owns 7,809,075 shares of the company’s stock worth $886,221,000 after buying an additional 95,764 shares in the last quarter. Capital World Investors boosted its position in shares of Hershey by 11.6% in the second quarter. Capital World Investors now owns 4,800,000 shares of the company’s stock worth $544,752,000 after buying an additional 500,000 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Hershey by 15.0% in the second quarter. BlackRock Group LTD now owns 1,894,373 shares of the company’s stock worth $214,992,000 after buying an additional 247,521 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Hershey by 74.4% in the second quarter. APG Asset Management N.V. now owns 599,089 shares of the company’s stock worth $67,991,000 after buying an additional 255,600 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Hershey by 75.1% in the second quarter. AQR Capital Management LLC now owns 525,649 shares of the company’s stock worth $59,656,000 after buying an additional 225,529 shares in the last quarter. 53.11% of the stock is currently owned by institutional investors.
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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