Hershey Co (NYSE:HSY) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Friday, August 23rd will be paid a dividend of 0.773 per share on Monday, September 16th. This represents a $3.09 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, August 22nd. This is an increase from Hershey’s previous quarterly dividend of $0.72.
Hershey has raised its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Hershey has a dividend payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hershey to earn $6.08 per share next year, which means the company should continue to be able to cover its $3.09 annual dividend with an expected future payout ratio of 50.8%.
HSY stock opened at $157.77 on Tuesday. The company has a market capitalization of $32.58 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.09. Hershey has a one year low of $98.50 and a one year high of $158.40. The company’s 50 day moving average price is $147.21 and its two-hundred day moving average price is $127.11. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.48 and a current ratio of 0.88.
In other news, Director Anthony J. Palmer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total transaction of $652,150.00. Following the sale, the director now owns 10,014 shares in the company, valued at approximately $1,306,126.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven E. Voskuil bought 1,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $129.14 per share, for a total transaction of $129,140.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $129,140. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,100 shares of company stock worth $401,990 and sold 137,076 shares worth $18,940,324. 0.41% of the stock is currently owned by company insiders.
HSY has been the topic of several research reports. ValuEngine raised shares of Hershey from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. UBS Group raised shares of Hershey from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $100.00 to $145.00 in a research note on Monday, July 22nd. Goldman Sachs Group raised shares of Hershey from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $86.00 to $142.00 in a research note on Wednesday, July 17th. Citigroup lifted their price target on shares of Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Stifel Nicolaus lifted their price target on shares of Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $138.71.
Hershey Company Profile
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.
Further Reading: Rule of 72
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