Hershey Co. (HSY) Declares Quarterly Dividend of $0.62
Hershey Co. (NYSE:HSY) announced a quarterly dividend on Friday, October 14th. Investors of record on Wednesday, November 23rd will be given a dividend of 0.618 per share on Thursday, December 15th. This represents a $2.47 dividend on an annualized basis and a yield of 2.56%.
Hershey (NYSE:HSY) traded up 0.82% during midday trading on Friday, reaching $96.43. The company had a trading volume of 1,563,346 shares. The firm has a market capitalization of $20.56 billion, a P/E ratio of 28.24 and a beta of 0.23. The stock’s 50 day moving average price is $97.63 and its 200-day moving average price is $99.15. Hershey has a one year low of $82.42 and a one year high of $117.79.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Hershey will post $4.26 earnings per share for the current year.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $111.41, for a total transaction of $122,551.00. Following the transaction, the senior vice president now owns 27,188 shares in the company, valued at approximately $3,029,015.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in shares of Hershey by 15.1% in the second quarter. Public Sector Pension Investment Board now owns 26,665 shares of the company’s stock worth $3,026,000 after buying an additional 3,500 shares during the last quarter. National Pension Service raised its position in shares of Hershey by 12.1% in the second quarter. National Pension Service now owns 104,445 shares of the company’s stock worth $11,853,000 after buying an additional 11,267 shares during the last quarter. Atlantic Trust Group LLC acquired a new position in shares of Hershey during the second quarter worth about $1,415,000. Canada Pension Plan Investment Board raised its position in shares of Hershey by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 77,117 shares of the company’s stock worth $8,752,000 after buying an additional 29,698 shares during the last quarter. Finally, Tredje AP fonden raised its position in shares of Hershey by 12.2% in the second quarter. Tredje AP fonden now owns 17,420 shares of the company’s stock worth $1,977,000 after buying an additional 1,893 shares during the last quarter. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Several equities research analysts have commented on the stock. Vetr raised shares of Hershey from a “hold” rating to a “strong-buy” rating and set a $112.59 price target on the stock in a research report on Wednesday, August 31st. RBC Capital Markets reissued a “sector perform” rating and set a $105.00 price target (up from $92.00) on shares of Hershey in a research report on Wednesday, July 27th. Zacks Investment Research cut shares of Hershey from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Tigress Financial cut shares of Hershey from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Finally, BMO Capital Markets reissued a “neutral” rating on shares of Hershey in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $100.50.
Hershey Company Profile
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
Receive News & Stock Ratings for Hershey Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey Co. and related stocks with our FREE daily email newsletter.