The Hershey Company (NYSE:HSY) Expected to Announce Quarterly Sales of $2.22 Billion

Brokerages expect The Hershey Company (NYSE:HSYGet Rating) to report sales of $2.22 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Hershey’s earnings, with estimates ranging from $2.13 billion to $2.28 billion. Hershey posted sales of $1.99 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Hershey will report full year sales of $9.97 billion for the current year, with estimates ranging from $9.77 billion to $10.08 billion. For the next financial year, analysts expect that the company will post sales of $10.30 billion, with estimates ranging from $10.00 billion to $10.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Hershey.

Hershey (NYSE:HSYGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.43. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Hershey had a net margin of 17.29% and a return on equity of 61.65%. Hershey’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share.

HSY has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Hershey from $191.00 to $207.00 and gave the company an “equal weight” rating in a research note on Friday, February 4th. The Goldman Sachs Group lifted their price objective on shares of Hershey from $221.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, February 4th. Evercore ISI boosted their price target on shares of Hershey from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, February 4th. UBS Group started coverage on shares of Hershey in a research note on Wednesday, March 30th. They set a “neutral” rating and a $226.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Hershey from $200.00 to $210.00 in a research note on Friday, April 29th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Hershey has an average rating of “Buy” and a consensus price target of $218.40.

NYSE HSY opened at $213.45 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.96. The firm has a market cap of $324.34 billion, a PE ratio of 27.44, a P/E/G ratio of 3.32 and a beta of 0.35. Hershey has a one year low of $167.80 and a one year high of $231.60. The firm’s fifty day moving average is $219.34 and its two-hundred day moving average is $202.57.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 20th will be issued a dividend of $0.901 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 19th. Hershey’s dividend payout ratio is currently 46.27%.

In other Hershey news, CEO Michele Buck sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $221.95, for a total value of $1,109,750.00. Following the sale, the chief executive officer now owns 195,555 shares of the company’s stock, valued at $43,403,432.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Reiman sold 150 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $224.75, for a total transaction of $33,712.50. Following the completion of the sale, the senior vice president now directly owns 16,467 shares in the company, valued at approximately $3,700,958.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,760 shares of company stock worth $2,607,388. 0.34% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HSY. Goldman Sachs Group Inc. lifted its stake in shares of Hershey by 6.2% during the third quarter. Goldman Sachs Group Inc. now owns 332,217 shares of the company’s stock valued at $56,228,000 after buying an additional 19,309 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Hershey by 6.9% during the third quarter. Public Sector Pension Investment Board now owns 25,068 shares of the company’s stock valued at $4,243,000 after buying an additional 1,621 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Hershey by 6.4% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,047 shares of the company’s stock valued at $686,000 after buying an additional 243 shares during the period. First Republic Investment Management Inc. lifted its stake in shares of Hershey by 2.1% during the third quarter. First Republic Investment Management Inc. now owns 17,969 shares of the company’s stock valued at $3,041,000 after buying an additional 362 shares during the period. Finally, Scotia Capital Inc. lifted its stake in shares of Hershey by 3.9% during the third quarter. Scotia Capital Inc. now owns 6,688 shares of the company’s stock valued at $1,132,000 after buying an additional 253 shares during the period. 52.96% of the stock is currently owned by institutional investors and hedge funds.

About Hershey (Get Rating)

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, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.

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