The Hershey Company (NYSE:HSY) Forecasted to Earn Q2 2024 Earnings of $1.34 Per Share

The Hershey Company (NYSE:HSY) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Hershey in a report released on Monday, May 6th. DA Davidson analyst B. Holland expects that the company will post earnings per share of $1.34 for the quarter. The consensus estimate for Hershey’s current full-year earnings is $9.60 per share. DA Davidson also issued estimates for Hershey’s FY2024 earnings at $9.63 EPS and FY2025 earnings at $9.75 EPS.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the company earned $2.96 EPS. Hershey’s quarterly revenue was up 8.9% on a year-over-year basis.

A number of other research analysts also recently issued reports on HSY. Stifel Nicolaus boosted their price target on Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, January 25th. BNP Paribas lowered shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research report on Friday, March 15th. Piper Sandler dropped their target price on Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Finally, Barclays lifted their price target on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $213.06.

Hershey Trading Up 0.9 %

Shares of Hershey stock opened at $199.96 on Tuesday. Hershey has a 1 year low of $178.82 and a 1 year high of $275.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The stock has a market cap of $40.78 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 3.04 and a beta of 0.33. The firm has a fifty day moving average price of $192.30 and a 200 day moving average price of $190.85.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hershey by 2.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,879 shares of the company’s stock valued at $13,581,000 after purchasing an additional 1,507 shares during the period. FORVIS Wealth Advisors LLC increased its holdings in shares of Hershey by 2.3% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 4,957 shares of the company’s stock worth $992,000 after buying an additional 113 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Hershey by 5.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,926 shares of the company’s stock valued at $5,988,000 after buying an additional 1,477 shares during the period. NBT Bank N A NY raised its position in shares of Hershey by 353.3% during the 3rd quarter. NBT Bank N A NY now owns 4,964 shares of the company’s stock valued at $993,000 after buying an additional 3,869 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in Hershey in the third quarter valued at approximately $1,099,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the sale, the chief financial officer now owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

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.