Brokerages forecast that Hershey Co (NYSE:HSY) will announce sales of $1.76 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Hershey’s earnings, with estimates ranging from $1.75 billion to $1.77 billion. Hershey reported sales of $1.75 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Hershey will report full year sales of $7.94 billion for the current financial year, with estimates ranging from $7.91 billion to $8.00 billion. For the next fiscal year, analysts forecast that the company will post sales of $8.04 billion, with estimates ranging from $8.00 billion to $8.13 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Hershey.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.11. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS.
Hershey stock opened at $137.24 on Friday. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.92 and a beta of 0.11. Hershey has a 52-week low of $89.29 and a 52-week high of $137.51. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 2.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, May 23rd. Hershey’s payout ratio is 53.92%.
In other news, major shareholder Hershey Trust Co Trustee In Tr sold 617,613 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $128.09, for a total transaction of $79,110,049.17. Following the transaction, the insider now directly owns 1,199,988 shares of the company’s stock, valued at $153,706,462.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $109.52, for a total value of $164,280.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,100 shares of company stock worth $401,990 and have sold 3,627,251 shares worth $457,067,687. 0.41% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of HSY. Bremer Trust National Association acquired a new position in shares of Hershey during the fourth quarter worth approximately $29,000. Claybrook Capital LLC acquired a new position in shares of Hershey during the fourth quarter worth approximately $29,000. Trustcore Financial Services LLC purchased a new stake in Hershey in the 1st quarter valued at $29,000. Oregon Public Employees Retirement Fund raised its position in Hershey by 10,179.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock valued at $32,000 after buying an additional 3,423,036 shares during the last quarter. Finally, Acima Private Wealth LLC purchased a new stake in Hershey in the 4th quarter valued at $33,000. 53.57% of the stock is currently owned by institutional investors.
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.
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