Hershey Co (HSY) To Go Ex-Dividend on August 22nd

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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.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.18 by $0.13. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a net margin of 15.51% and a return on equity of 83.29%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, research analysts predict that Hershey will post 5.74 EPS for the current year.

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

Dividend History for Hershey (NYSE:HSY)

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