DA Davidson Issues Pessimistic Estimate for Hershey Earnings

The Hershey Company (NYSE:HSY) – Stock analysts at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Hershey in a report issued on Monday, November 11th. DA Davidson analyst B. Holland now forecasts that the company will earn $9.07 per share for the year, down from their prior forecast of $9.38. The consensus estimate for Hershey’s current full-year earnings is $9.06 per share. DA Davidson also issued estimates for Hershey’s Q4 2024 earnings at $2.39 EPS.

Several other research firms also recently issued reports on HSY. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Redburn Atlantic started coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Bank of America reduced their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler upped their target price on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Stock Performance

Hershey stock opened at $184.45 on Tuesday. The business has a 50 day moving average of $188.56 and a 200-day moving average of $192.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. Hershey has a 1 year low of $171.67 and a 1 year high of $211.92. The company has a market capitalization of $37.31 billion, a P/E ratio of 20.91, a P/E/G ratio of 4.35 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 2.97%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after buying an additional 4,468 shares in the last quarter. Sei Investments Co. raised its position in Hershey by 2.2% in the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after buying an additional 1,168 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Hershey by 20.1% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after acquiring an additional 2,635 shares in the last quarter. Finally, JLB & Associates Inc. boosted its holdings in Hershey by 53.5% during the 3rd quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock worth $12,414,000 after acquiring an additional 22,562 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

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.