$1.99 Billion in Sales Expected for Hershey Co (HSY) This Quarter

Brokerages expect Hershey Co (NYSE:HSY) to announce sales of $1.99 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Hershey’s earnings, with the lowest sales estimate coming in at $1.96 billion and the highest estimate coming in at $2.01 billion. Hershey posted sales of $1.97 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Hershey will report full-year sales of $7.93 billion for the current fiscal year, with estimates ranging from $7.92 billion to $7.96 billion. For the next financial year, analysts forecast that the business will report sales of $8.04 billion, with estimates ranging from $7.86 billion to $8.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Hershey.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, January 31st. The company reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.01). Hershey had a net margin of 15.11% and a return on equity of 95.97%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted $1.03 earnings per share.

A number of brokerages recently commented on HSY. Bank of America raised shares of Hershey from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $120.00 in a research report on Wednesday, December 19th. Zacks Investment Research downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Finally, ValuEngine raised shares of Hershey from a “hold” rating to a “buy” rating in a research report on Wednesday, December 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $102.25.

In related news, VP Javier H. Idrovo sold 4,873 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $110.00, for a total transaction of $536,030.00. Following the completion of the sale, the vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $2,357,960. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Patricia A. Little sold 19,779 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $109.30, for a total transaction of $2,161,844.70. Following the sale, the chief financial officer now directly owns 36,049 shares of the company’s stock, valued at $3,940,155.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,585 shares of company stock valued at $3,811,555. 0.87% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of HSY. JPMorgan Chase & Co. raised its stake in Hershey by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 129,031 shares of the company’s stock valued at $13,161,000 after purchasing an additional 8,063 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Hershey by 1.9% in the 3rd quarter. Prudential Financial Inc. now owns 160,064 shares of the company’s stock valued at $16,326,000 after buying an additional 3,020 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hershey by 51.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock valued at $203,829,000 after buying an additional 676,300 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Hershey by 1.9% in the 3rd quarter. Martingale Asset Management L P now owns 385,127 shares of the company’s stock valued at $39,284,000 after buying an additional 7,202 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Hershey by 0.5% in the 3rd quarter. Credit Suisse AG now owns 315,029 shares of the company’s stock valued at $32,133,000 after buying an additional 1,680 shares in the last quarter. 52.42% of the stock is owned by institutional investors and hedge funds.

HSY traded down $0.21 on Friday, reaching $113.63. 208,336 shares of the company traded hands, compared to its average volume of 1,006,199. Hershey has a 52-week low of $89.10 and a 52-week high of $115.00. The company has a market capitalization of $23.74 billion, a PE ratio of 21.20, a PEG ratio of 2.39 and a beta of 0.15. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.60 and a current ratio of 0.93.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 22nd were given a $0.722 dividend. This represents a $2.89 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, February 21st. Hershey’s dividend payout ratio is 53.92%.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Earnings History and Estimates for Hershey (NYSE:HSY)

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