Hershey Company (The) (NYSE:HSY) had its price objective hoisted by Citigroup Inc. from $126.00 to $130.00 in a research report report published on Friday, October 27th. They currently have a buy rating on the stock.
A number of other analysts have also weighed in on HSY. Sanford C. Bernstein raised shares of Hershey Company (The) from a market perform rating to an outperform rating and upped their price target for the stock from $109.00 to $127.00 in a research note on Thursday, August 17th. Royal Bank Of Canada reissued a hold rating and set a $114.00 target price on shares of Hershey Company (The) in a research note on Friday, July 21st. Morgan Stanley cut their target price on shares of Hershey Company (The) from $111.00 to $108.00 and set an equal weight rating for the company in a research note on Tuesday, July 18th. Susquehanna Bancshares Inc set a $115.00 price target on shares of Hershey Company (The) and gave the company a neutral rating in a report on Thursday, August 24th. Finally, BidaskClub lowered shares of Hershey Company (The) from a hold rating to a sell rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $113.35.
Hershey Company (NYSE HSY) traded up $0.83 during trading hours on Friday, hitting $108.60. 751,600 shares of the company traded hands, compared to its average volume of 1,031,641. The firm has a market cap of $23,050.00, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 2.95 and a beta of 0.36. Hershey Company has a 1-year low of $95.68 and a 1-year high of $116.49. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55.
Hershey Company (The) (NYSE:HSY) last released its earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company’s revenue was up 1.5% on a year-over-year basis. equities research analysts forecast that Hershey Company will post 4.8 EPS for the current year.
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Hershey Company (The) announced that its board has initiated a share buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be paid a $0.656 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, November 21st. Hershey Company (The)’s payout ratio is currently 85.34%.
In other news, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $106.01, for a total value of $477,045,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michele Buck sold 400 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the sale, the insider now directly owns 165,697 shares of the company’s stock, valued at approximately $17,895,276. The disclosure for this sale can be found here. Insiders sold 4,519,232 shares of company stock worth $479,154,674 over the last quarter. 0.92% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Hershey Company (The) by 5.5% in the second quarter. BlackRock Inc. now owns 10,664,194 shares of the company’s stock valued at $1,145,016,000 after buying an additional 557,846 shares during the period. Vanguard Group Inc. increased its position in Hershey Company (The) by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,545,096 shares of the company’s stock valued at $1,024,857,000 after purchasing an additional 260,072 shares during the period. State Street Corp increased its position in Hershey Company (The) by 1.2% during the 2nd quarter. State Street Corp now owns 6,270,169 shares of the company’s stock valued at $673,225,000 after purchasing an additional 75,548 shares during the period. Janus Henderson Group PLC increased its position in Hershey Company (The) by 19,853.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock valued at $406,519,000 after purchasing an additional 3,767,172 shares during the period. Finally, Northern Trust Corp increased its position in Hershey Company (The) by 0.3% during the 2nd quarter. Northern Trust Corp now owns 1,825,282 shares of the company’s stock valued at $195,980,000 after purchasing an additional 5,796 shares during the period. 50.22% of the stock is owned by institutional investors.
Hershey Company (The) 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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