A number of other equities research analysts have also commented on the stock. Morgan Stanley reduced their price objective on shares of Hershey Company (The) from $111.00 to $108.00 and set an equal weight rating on the stock in a research note on Tuesday, July 18th. J P Morgan Chase & Co reissued a neutral rating and set a $116.00 target price (down from $119.00) on shares of Hershey Company (The) in a research note on Wednesday, June 28th. BidaskClub lowered shares of Hershey Company (The) from a hold rating to a sell rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Hershey Company (The) from a hold rating to a buy rating and set a $122.00 price objective on the stock in a report on Monday, October 2nd. Finally, Credit Suisse Group restated a buy rating and set a $121.00 price objective on shares of Hershey Company (The) in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $113.35.
Hershey Company (HSY) opened at $108.60 on Thursday. The company has a market cap of $22,878.54, a P/E ratio of 22.16, a PEG ratio of 2.95 and a beta of 0.36. Hershey Company has a 12-month low of $95.68 and a 12-month high of $116.49. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45.
Hershey Company (The) (NYSE:HSY) last released its quarterly earnings data on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.04. Hershey Company (The) had a net margin of 9.52% and a return on equity of 124.06%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $1.29 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. sell-side analysts predict that Hershey Company will post 4.8 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.656 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.42%. Hershey Company (The)’s dividend payout ratio (DPR) is presently 77.98%.
Hershey Company (The) declared that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other Hershey Company (The) news, insider Michele Buck sold 400 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the transaction, the insider now directly owns 165,697 shares in the company, valued at approximately $17,895,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Javier H. Idrovo sold 15,132 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $110.04, for a total value of $1,665,125.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,519,232 shares of company stock valued at $479,154,674. 0.92% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Hershey Company (The) by 29.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 600,233 shares of the company’s stock valued at $65,528,000 after acquiring an additional 136,537 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Hershey Company (The) by 12.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 347,310 shares of the company’s stock valued at $37,916,000 after acquiring an additional 37,629 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in Hershey Company (The) by 6.8% during the 3rd quarter. Commonwealth Bank of Australia now owns 17,100 shares of the company’s stock valued at $1,860,000 after buying an additional 1,096 shares during the period. Zeke Capital Advisors LLC purchased a new stake in Hershey Company (The) during the 3rd quarter valued at $525,000. Finally, Picton Mahoney Asset Management purchased a new stake in Hershey Company (The) during the 3rd quarter valued at $7,315,000. Hedge funds and other institutional investors own 50.22% of the company’s stock.
About Hershey Company (The)
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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