A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reissued a hold rating and issued a $105.00 price target on shares of Hershey in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Hershey from a buy rating to a hold rating in a research note on Monday, October 30th. Royal Bank of Canada reissued a hold rating and issued a $122.00 price target on shares of Hershey in a research note on Friday, December 22nd. Citigroup boosted their price target on shares of Hershey from $126.00 to $130.00 and gave the company a buy rating in a research note on Friday, October 27th. Finally, UBS Group reduced their price target on shares of Hershey from $110.00 to $106.00 and set a neutral rating on the stock in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $111.72.
Hershey (HSY) opened at $100.17 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.96 and a debt-to-equity ratio of 2.21. The firm has a market cap of $21,692.48, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.51 and a beta of 0.26. Hershey has a fifty-two week low of $100.17 and a fifty-two week high of $116.49.
Hershey (NYSE:HSY) last posted 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). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Hershey had a net margin of 10.42% and a return on equity of 116.74%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. equities research analysts predict that Hershey will post 5.35 earnings per share for the current fiscal year.
Hershey announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, February 23rd will be paid a dividend of $0.656 per share. This represents a $2.62 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, February 22nd. Hershey’s payout ratio is currently 71.58%.
In related news, insider Michele Buck sold 400 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $108.00, for a total transaction of $43,200.00. Following the sale, the insider now directly owns 164,897 shares of the company’s stock, valued at approximately $17,808,876. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP D Michael Wege sold 15,517 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $108.18, for a total transaction of $1,678,629.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,117 shares of company stock worth $1,855,629. 0.92% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Hershey by 1.2% during the 2nd quarter. State Street Corp now owns 6,270,169 shares of the company’s stock worth $673,225,000 after acquiring an additional 75,548 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Hershey by 15.4% during the 3rd quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock worth $476,949,000 after acquiring an additional 582,715 shares in the last quarter. APG Asset Management N.V. grew its holdings in Hershey by 45.4% during the 4th quarter. APG Asset Management N.V. now owns 1,885,679 shares of the company’s stock worth $178,251,000 after acquiring an additional 588,500 shares in the last quarter. Marathon Asset Management LLP grew its holdings in Hershey by 39.2% during the 4th quarter. Marathon Asset Management LLP now owns 1,694,259 shares of the company’s stock worth $192,322,000 after acquiring an additional 477,539 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Hershey by 106.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,115,299 shares of the company’s stock worth $121,757,000 after acquiring an additional 573,799 shares in the last quarter. Institutional investors own 51.97% of the company’s stock.
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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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