Equities research analysts expect that Hershey Co (NYSE:HSY) will post $1.95 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Hershey’s earnings, with the highest sales estimate coming in at $1.97 billion and the lowest estimate coming in at $1.93 billion. Hershey posted sales of $1.88 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.7%. The company is expected to announce its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Hershey will report full year sales of $1.95 billion for the current financial year, with estimates ranging from $7.92 billion to $8.00 billion. For the next year, analysts expect that the business will report sales of $8.09 billion per share, with estimates ranging from $8.03 billion to $8.17 billion. Zacks Investment Research’s sales averages 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, February 1st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). Hershey had a net margin of 10.42% and a return on equity of 116.74%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $1.17 earnings per share. Hershey’s quarterly revenue was down 1.5% compared to the same quarter last year.
In other news, CEO Michele Buck sold 400 shares of Hershey stock in a transaction on Friday, January 26th. The stock was sold at an average price of $111.55, for a total transaction of $44,620.00. Following the completion of the sale, the chief executive officer now owns 163,697 shares of the company’s stock, valued at $18,260,400.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HSY. BlackRock Inc. increased its position in shares of Hershey by 22.6% in the fourth quarter. BlackRock Inc. now owns 12,459,680 shares of the company’s stock worth $1,414,299,000 after purchasing an additional 2,299,115 shares during the period. Evercore Trust Company N.A. bought a new position in shares of Hershey in the third quarter worth $105,956,000. American Century Companies Inc. bought a new position in shares of Hershey in the fourth quarter worth $67,283,000. APG Asset Management N.V. increased its position in shares of Hershey by 45.4% in the fourth quarter. APG Asset Management N.V. now owns 1,885,679 shares of the company’s stock worth $178,251,000 after purchasing an additional 588,500 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Hershey by 15.4% in the third quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock worth $476,949,000 after purchasing an additional 582,715 shares during the period. Institutional investors own 52.64% of the company’s stock.
Shares of NYSE:HSY traded up $0.71 during midday trading on Monday, hitting $98.96. The stock had a trading volume of 896,879 shares, compared to its average volume of 1,130,372. Hershey has a 12 month low of $95.21 and a 12 month high of $116.49. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $20,829.30, a PE ratio of 20.79, a P/E/G ratio of 2.13 and a beta of 0.36.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, February 22nd. Hershey’s dividend payout ratio is currently 55.04%.
Hershey Company Profile
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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