$2.10 Billion in Sales Expected for The Hershey Company (NYSE:HSY) This Quarter

Equities analysts predict that The Hershey Company (NYSE:HSY) will post $2.10 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for The Hershey’s earnings, with estimates ranging from $2.04 billion to $2.16 billion. The Hershey posted sales of $2.04 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, April 22nd.

On average, analysts expect that The Hershey will report full-year sales of $8.39 billion for the current year, with estimates ranging from $8.25 billion to $8.47 billion. For the next year, analysts forecast that the firm will report sales of $8.55 billion, with estimates ranging from $8.37 billion to $8.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover The Hershey.

The Hershey (NYSE:HSY) last released its quarterly earnings data on Wednesday, February 3rd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.06. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.12 billion. The Hershey had a return on equity of 70.30% and a net margin of 14.87%. During the same period in the prior year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year.

HSY has been the subject of several research reports. Jefferies Financial Group boosted their target price on The Hershey from $157.00 to $162.00 and gave the company a “hold” rating in a report on Tuesday, January 12th. Royal Bank of Canada raised The Hershey from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $157.00 to $170.00 in a report on Monday, February 8th. Bank of America raised The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a report on Wednesday, January 6th. Credit Suisse Group boosted their target price on The Hershey from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, February 5th. Finally, Piper Sandler raised The Hershey from a “neutral” rating to an “overweight” rating in a research note on Tuesday, March 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $158.43.

The Hershey stock opened at $160.57 on Thursday. The Hershey has a fifty-two week low of $125.50 and a fifty-two week high of $161.71. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.01 and a current ratio of 1.44. The company has a market capitalization of $33.26 billion, a P/E ratio of 28.17, a PEG ratio of 2.98 and a beta of 0.31. The stock has a 50-day simple moving average of $152.94 and a 200-day simple moving average of $148.99.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 19th were given a dividend of $0.804 per share. This represents a $3.22 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, February 18th. The Hershey’s payout ratio is 55.71%.

In other The Hershey news, Director Pamela M. Arway sold 278 shares of the business’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $151.46, for a total transaction of $42,105.88. Following the transaction, the director now owns 15,994 shares in the company, valued at approximately $2,422,451.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michele Buck sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $158.80, for a total value of $397,000.00. Following the completion of the sale, the chief executive officer now owns 187,997 shares in the company, valued at approximately $29,853,923.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,899 shares of company stock worth $2,875,200 in the last quarter. 29.39% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of The Hershey in the 4th quarter worth approximately $3,913,000. Occidental Asset Management LLC grew its holdings in shares of The Hershey by 9.2% in the 4th quarter. Occidental Asset Management LLC now owns 7,191 shares of the company’s stock worth $1,095,000 after acquiring an additional 603 shares during the period. Truist Financial Corp grew its holdings in shares of The Hershey by 21.1% in the 4th quarter. Truist Financial Corp now owns 51,650 shares of the company’s stock worth $7,868,000 after acquiring an additional 8,988 shares during the period. JustInvest LLC grew its holdings in shares of The Hershey by 21.9% in the 4th quarter. JustInvest LLC now owns 2,123 shares of the company’s stock worth $323,000 after acquiring an additional 381 shares during the period. Finally, Aaron Wealth Advisors acquired a new stake in shares of The Hershey in the 4th quarter worth approximately $1,499,000. Institutional investors and hedge funds own 52.12% of the company’s stock.

The Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in 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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Earnings History and Estimates for The Hershey (NYSE:HSY)

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