The Hershey Company (NYSE:HSY) Expected to Post Quarterly Sales of $2.29 Billion

Brokerages expect The Hershey Company (NYSE:HSY) to report $2.29 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for The Hershey’s earnings. The lowest sales estimate is $2.27 billion and the highest is $2.35 billion. The Hershey reported sales of $2.22 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The business is expected to announce its next earnings report on Friday, November 5th.

On average, analysts expect that The Hershey will report full year sales of $8.80 billion for the current fiscal year, with estimates ranging from $8.75 billion to $8.85 billion. For the next year, analysts expect that the firm will report sales of $9.01 billion, with estimates ranging from $8.84 billion to $9.21 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow The Hershey.

The Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 29th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The Hershey had a net margin of 16.52% and a return on equity of 63.62%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.85 billion.

A number of equities research analysts have weighed in on HSY shares. Royal Bank of Canada boosted their target price on shares of The Hershey from $188.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Piper Sandler boosted their price objective on shares of The Hershey from $182.00 to $194.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Credit Suisse Group boosted their price objective on shares of The Hershey from $180.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Morgan Stanley initiated coverage on shares of The Hershey in a research report on Tuesday. They set a “hold” rating and a $180.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of The Hershey from $175.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $177.50.

Shares of HSY opened at $174.04 on Friday. The firm has a market cap of $35.86 billion, a PE ratio of 25.30, a P/E/G ratio of 3.30 and a beta of 0.36. The company has a current ratio of 1.40, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $177.28 and a two-hundred day simple moving average of $170.60. The Hershey has a 1-year low of $135.83 and a 1-year high of $182.71.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 20th were given a dividend of $0.901 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.07%. This is a boost from The Hershey’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 19th. The Hershey’s dividend payout ratio is currently 57.23%.

In other The Hershey news, SVP Kristen J. Riggs sold 1,760 shares of the company’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $175.42, for a total value of $308,739.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Hershey Trust Co sold 5,500 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $178.48, for a total transaction of $981,640.00. Following the completion of the transaction, the insider now owns 59,330 shares in the company, valued at $10,589,218.40. The disclosure for this sale can be found here. Insiders sold a total of 15,079 shares of company stock worth $2,674,010 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its stake in The Hershey by 103.0% in the second quarter. Banque Cantonale Vaudoise now owns 8,520 shares of the company’s stock valued at $1,484,000 after acquiring an additional 4,322 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of The Hershey by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 1,385,958 shares of the company’s stock worth $219,195,000 after buying an additional 12,256 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of The Hershey by 4.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 45,327 shares of the company’s stock worth $7,895,000 after buying an additional 1,983 shares during the last quarter. Grimes & Company Inc. raised its holdings in shares of The Hershey by 4.8% in the first quarter. Grimes & Company Inc. now owns 68,987 shares of the company’s stock worth $10,911,000 after buying an additional 3,164 shares during the last quarter. Finally, Andra AP fonden raised its holdings in shares of The Hershey by 14.6% in the first quarter. Andra AP fonden now owns 60,500 shares of the company’s stock worth $9,569,000 after buying an additional 7,700 shares during the last quarter. Hedge funds and other institutional investors own 52.34% of the company’s stock.

About The Hershey

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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