Zacks Research Issues Negative Forecast for Hershey Earnings

The Hershey Company (NYSE:HSY) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share estimates for Hershey in a research report issued on Thursday, November 28th. Zacks Research analyst A. Mohta now anticipates that the company will post earnings of $9.06 per share for the year, down from their prior forecast 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.

A number of other brokerages also recently weighed in on HSY. Piper Sandler lifted their target price on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. decreased their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Finally, Bank of America lowered their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat.com, Hershey presently has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Up 0.9 %

Hershey stock opened at $179.46 on Monday. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 4.26 and a beta of 0.37. Hershey has a 52-week low of $168.16 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a 50 day moving average price of $181.58 and a two-hundred day moving average price of $189.40.

Hershey Announces Dividend

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

Institutional Trading of Hershey

A number of large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in Hershey during the 3rd quarter worth about $25,000. Capital Advisors Ltd. LLC increased its position 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 buying an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Hershey in the second quarter worth about $29,000. Finally, Gradient Investments LLC boosted its position in shares of Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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.