Hershey (NYSE:HSY) Issues Earnings Results, Beats Estimates By $0.33 EPS

Hershey (NYSE:HSY) released its quarterly earnings results on Friday. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.74 by $0.33, RTT News reports. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 earnings per share. Hershey updated its FY 2024 guidance to 9.590-9.590 EPS.

Hershey Trading Up 1.0 %

HSY traded up $2.04 during trading on Friday, hitting $197.92. The company’s stock had a trading volume of 3,396,043 shares, compared to its average volume of 1,711,441. Hershey has a twelve month low of $178.82 and a twelve month high of $275.89. The firm’s 50 day moving average price is $191.85 and its 200-day moving average price is $190.72. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The stock has a market cap of $40.37 billion, a PE ratio of 21.87, a PEG ratio of 3.01 and a beta of 0.33.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be given a dividend of $1.37 per share. The ex-dividend date is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.77%. Hershey’s dividend payout ratio (DPR) is currently 60.55%.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the completion of the sale, the chief financial officer now owns 38,728 shares in the company, valued at approximately $7,196,824.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on HSY shares. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target for the company. in a research report on Tuesday, March 26th. Citigroup lowered their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Barclays upped their price objective on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Stifel Nicolaus lifted their target price on Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price target on Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average target price of $212.78.

About Hershey

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; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.