Analysts Expect The Hershey Company (NYSE:HSY) Will Announce Quarterly Sales of $2.10 Billion

Equities analysts forecast that The Hershey Company (NYSE:HSY) will report sales of $2.10 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for The Hershey’s earnings, with the lowest sales estimate coming in at $2.04 billion and the highest estimate coming in at $2.16 billion. The Hershey posted sales of $2.04 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The firm is expected to issue its next earnings results before the market opens on Thursday, April 22nd.

On average, analysts expect that The Hershey will report full year sales of $8.39 billion for the current year, with estimates ranging from $8.25 billion to $8.47 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.55 billion, with estimates ranging from $8.37 billion to $8.68 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover The Hershey.

The Hershey (NYSE:HSY) last announced its quarterly earnings data on Wednesday, February 3rd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. The Hershey had a net margin of 14.87% and a return on equity of 70.30%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The Hershey’s revenue was up 5.7% compared to the same quarter last year.

Several brokerages recently issued reports on HSY. Piper Sandler raised shares of The Hershey from a “neutral” rating to an “overweight” rating in a research note on Tuesday, March 23rd. Jefferies Financial Group increased their price target on shares of The Hershey from $157.00 to $162.00 and gave the company a “hold” rating in a research note on Tuesday, January 12th. Credit Suisse Group increased their price target on shares of The Hershey from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Bank of America raised shares of The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research note on Wednesday, January 6th. Finally, Royal Bank of Canada raised shares of The Hershey from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $157.00 to $170.00 in a research note on Monday, February 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $158.43.

In other The Hershey news, CEO Michele Buck sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 28th. The shares were sold at an average price of $146.41, for a total transaction of $366,025.00. Also, Director Pamela M. Arway sold 278 shares of the stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $151.46, for a total transaction of $42,105.88. Following the sale, the director now owns 15,994 shares in the company, valued at $2,422,451.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,899 shares of company stock worth $2,875,200. Company insiders own 29.39% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in The Hershey by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,630,276 shares of the company’s stock worth $248,339,000 after buying an additional 78,338 shares in the last quarter. Norges Bank acquired a new stake in shares of The Hershey in the 4th quarter valued at $220,190,000. First Trust Advisors LP raised its holdings in shares of The Hershey by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,285,509 shares of the company’s stock valued at $195,822,000 after purchasing an additional 26,876 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of The Hershey by 4.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,073,985 shares of the company’s stock valued at $163,599,000 after purchasing an additional 42,908 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of The Hershey by 0.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,066,029 shares of the company’s stock valued at $162,388,000 after purchasing an additional 8,433 shares in the last quarter. Institutional investors own 52.12% of the company’s stock.

Shares of NYSE HSY opened at $160.57 on Thursday. The Hershey has a 12-month low of $125.50 and a 12-month high of $161.71. The stock has a market cap of $33.26 billion, a PE ratio of 28.17, a P/E/G ratio of 2.98 and a beta of 0.31. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average of $152.94 and a 200 day moving average of $148.99.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 19th were issued a $0.804 dividend. The ex-dividend date was Thursday, February 18th. This represents a $3.22 annualized dividend and a dividend yield of 2.00%. The Hershey’s dividend payout ratio is currently 55.71%.

About The Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Earnings History and Estimates for The Hershey (NYSE:HSY)

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