Hershey Co (NYSE:HSY) Expected to Post Quarterly Sales of $1.75 Billion

Brokerages forecast that Hershey Co (NYSE:HSY) will report $1.75 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Hershey’s earnings, with the highest sales estimate coming in at $1.79 billion and the lowest estimate coming in at $1.71 billion. Hershey posted sales of $1.77 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The business is expected to issue its next earnings results before the market opens on Thursday, July 23rd.

On average, analysts expect that Hershey will report full year sales of $8.01 billion for the current fiscal year, with estimates ranging from $7.86 billion to $8.12 billion. For the next year, analysts forecast that the business will report sales of $8.19 billion, with estimates ranging from $7.99 billion to $8.36 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Hershey.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.08). The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.09 billion. Hershey had a return on equity of 71.52% and a net margin of 13.94%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 EPS.

Several analysts recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating and set a $152.00 price target on shares of Hershey in a research report on Thursday, May 7th. Stifel Nicolaus dropped their price objective on shares of Hershey from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, April 24th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price objective on shares of Hershey in a research note on Wednesday, April 22nd. Royal Bank of Canada reissued a “hold” rating and issued a $133.00 price objective on shares of Hershey in a research note on Wednesday, April 22nd. Finally, Cfra downgraded shares of Hershey from a “hold” rating to a “sell” rating and dropped their price objective for the company from $150.00 to $125.00 in a research note on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $144.67.

Shares of NYSE HSY traded down $0.41 during trading hours on Monday, hitting $129.45. 983,376 shares of the stock were exchanged, compared to its average volume of 1,273,279. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.70 and a current ratio of 0.99. The company has a market cap of $26.91 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.16. The company’s fifty day simple moving average is $131.32 and its two-hundred day simple moving average is $141.39. Hershey has a 1-year low of $109.88 and a 1-year high of $162.20.

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, May 21st. Hershey’s dividend payout ratio is presently 53.46%.

In other Hershey news, CEO Michele Buck sold 1,500 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $143.20, for a total value of $214,800.00. Following the completion of the sale, the chief executive officer now directly owns 170,121 shares in the company, valued at $24,361,327.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela M. Arway sold 347 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $142.37, for a total transaction of $49,402.39. Following the completion of the sale, the director now owns 15,945 shares of the company’s stock, valued at $2,270,089.65. The disclosure for this sale can be found here. 29.39% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of HSY. Norges Bank acquired a new position in shares of Hershey during the fourth quarter valued at about $202,552,000. Schroder Investment Management Group grew its holdings in shares of Hershey by 56.0% during the fourth quarter. Schroder Investment Management Group now owns 1,118,247 shares of the company’s stock valued at $164,360,000 after buying an additional 401,249 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Hershey by 192.0% during the first quarter. BNP Paribas Arbitrage SA now owns 434,073 shares of the company’s stock valued at $57,515,000 after buying an additional 285,398 shares during the last quarter. Unigestion Holding SA acquired a new position in shares of Hershey during the first quarter valued at about $36,594,000. Finally, AJO LP grew its holdings in shares of Hershey by 296.3% during the first quarter. AJO LP now owns 356,162 shares of the company’s stock valued at $47,191,000 after buying an additional 266,290 shares during the last quarter. Institutional investors and hedge funds own 52.54% of the company’s stock.

Hershey Company Profile

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.

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Earnings History and Estimates for Hershey (NYSE:HSY)

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