Analysts Anticipate Hershey Co (HSY) Will Post Quarterly Sales of $1.76 Billion

Analysts expect Hershey Co (NYSE:HSY) to announce $1.76 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Hershey’s earnings, with the highest sales estimate coming in at $1.77 billion and the lowest estimate coming in at $1.75 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 company is scheduled to report its next 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 fiscal year, with estimates ranging from $7.91 billion to $8.00 billion. For the next financial year, analysts anticipate that the firm will report sales of $8.04 billion, with estimates ranging from $8.00 billion to $8.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hershey.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.11. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share.



A number of research analysts have recently commented on HSY shares. Zacks Investment Research downgraded shares of Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. ValuEngine raised shares of Hershey from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Bank of America reissued a “buy” rating and issued a $130.00 price objective (up previously from $120.00) on shares of Hershey in a research report on Friday, April 26th. Barclays lifted their price objective on shares of Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, UBS Group set a $100.00 price objective on shares of Hershey and gave the company a “sell” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $112.91.

Shares of HSY opened at $127.06 on Wednesday. Hershey has a one year low of $89.29 and a one year high of $127.50. The stock has a market capitalization of $26.20 billion, a PE ratio of 23.71, a PEG ratio of 2.75 and a beta of 0.18. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a $0.722 dividend. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, May 23rd. Hershey’s dividend payout ratio (DPR) is presently 53.92%.

In other news, CEO Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $117.00, for a total transaction of $175,500.00. Following the completion of the sale, the chief executive officer now owns 161,429 shares in the company, valued at approximately $18,887,193. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 463,856 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $125.49, for a total transaction of $58,209,289.44. Following the sale, the insider now owns 2,231,037 shares of the company’s stock, valued at approximately $279,972,833.13. The disclosure for this sale can be found here. In the last three months, insiders sold 1,881,386 shares of company stock valued at $232,763,485. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of HSY. Oregon Public Employees Retirement Fund lifted its stake in shares of Hershey by 10,179.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock worth $32,000 after buying an additional 3,423,036 shares during the last quarter. Norges Bank acquired a new stake in shares of Hershey during the 4th quarter worth about $142,502,000. BlackRock Inc. lifted its stake in shares of Hershey by 8.4% during the 4th quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock worth $1,475,299,000 after buying an additional 1,070,632 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Hershey by 365.2% during the 1st quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock worth $109,523,000 after buying an additional 748,757 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Hershey by 9.8% during the 4th quarter. FMR LLC now owns 6,142,122 shares of the company’s stock worth $658,314,000 after buying an additional 550,341 shares during the last quarter. Institutional investors own 53.22% of the company’s stock.

About Hershey

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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