The Hershey Company (NYSE:HSY) Expected to Post Q1 2024 Earnings of $2.79 Per Share

The Hershey Company (NYSE:HSYFree Report) – Equities research analysts at DA Davidson issued their Q1 2024 earnings per share estimates for shares of Hershey in a report released on Friday, February 9th. DA Davidson analyst B. Holland anticipates that the company will post earnings per share of $2.79 for the quarter. DA Davidson has a “Neutral” rating and a $205.00 price target on the stock. The consensus estimate for Hershey’s current full-year earnings is $9.60 per share. DA Davidson also issued estimates for Hershey’s FY2024 earnings at $9.62 EPS and FY2025 earnings at $10.01 EPS.

Hershey (NYSE:HSYGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the previous year, the firm posted $2.02 earnings per share. The business’s revenue was up .2% compared to the same quarter last year.

HSY has been the subject of several other research reports. Citigroup initiated coverage on Hershey in a research report on Thursday, February 1st. They set a “neutral” rating and a $213.00 target price for the company. TD Cowen lowered Hershey from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $235.00 to $200.00 in a report on Friday, October 27th. Bank of America lowered Hershey from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $200.00 in a report on Friday, December 15th. Wells Fargo & Company upped their target price on Hershey from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Morgan Stanley lowered Hershey from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $191.00 to $183.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $228.33.

Read Our Latest Stock Report on Hershey

Hershey Trading Down 0.9 %

HSY opened at $193.74 on Monday. The firm has a market cap of $39.62 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.63 and a beta of 0.36. Hershey has a 12 month low of $178.82 and a 12 month high of $276.88. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $189.47 and a 200 day moving average of $198.76.

Hedge Funds Weigh In On Hershey

Several institutional investors and hedge funds have recently modified their holdings of HSY. Blair William & Co. IL raised its stake in Hershey by 3.1% during the first quarter. Blair William & Co. IL now owns 30,767 shares of the company’s stock worth $6,665,000 after purchasing an additional 916 shares during the period. Dakota Wealth Management acquired a new stake in Hershey during the 1st quarter valued at $238,000. Sequoia Financial Advisors LLC grew its holdings in Hershey by 28.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $339,000 after purchasing an additional 350 shares in the last quarter. Vanguard Group Inc. grew its holdings in Hershey by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock worth $3,045,383,000 after acquiring an additional 216,715 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in Hershey by 10.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company’s stock worth $6,972,000 after acquiring an additional 3,129 shares in the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the sale, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at $5,701,704.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the sale, the chief financial officer now directly owns 31,316 shares of the company’s stock, valued at $5,701,704.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the transaction, the chief accounting officer now owns 1,862 shares in the company, valued at $369,681.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,018 shares of company stock worth $1,331,734. Corporate insiders own 0.22% of the company’s stock.

Hershey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 20th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, February 16th. This is an increase from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio (DPR) is 52.71%.

Hershey Company Profile

(Get Free Report)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

See Also

Earnings History and Estimates for Hershey (NYSE:HSY)

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