FY2024 EPS Estimates for Hershey Cut by Zacks Research

The Hershey Company (NYSE:HSY) – Equities researchers at Zacks Research cut their FY2024 earnings estimates for Hershey in a research note issued to investors on Thursday, November 28th. Zacks Research analyst A. Mohta now expects that the company will post earnings of $9.06 per share for the year, down from their prior estimate of $9.50. The consensus estimate for Hershey’s current full-year earnings is $9.06 per share. Zacks Research also issued estimates for Hershey’s Q4 2024 earnings at $2.38 EPS, Q1 2025 earnings at $2.33 EPS, Q2 2025 earnings at $1.49 EPS, Q3 2025 earnings at $2.25 EPS, Q1 2026 earnings at $2.95 EPS and Q3 2026 earnings at $2.47 EPS.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, Hershey has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Performance

Shares of HSY opened at $179.46 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a 50-day moving average of $181.58 and a 200-day moving average of $189.40. The company has a market cap of $36.31 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 4.26 and a beta of 0.37. Hershey has a one year low of $168.16 and a one year high of $211.92.

Institutional Trading of Hershey

Several institutional investors and hedge funds have recently modified their holdings of HSY. Ashton Thomas Securities LLC acquired a new position in shares of Hershey during the third quarter worth $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management bought a new position in Hershey in the 2nd quarter valued at approximately $29,000. Finally, Gradient Investments LLC boosted its position in Hershey by 71.9% during the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after buying an additional 105 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is presently 63.13%.

Hershey Company Profile

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.