DA Davidson Comments on Hershey’s Q3 Earnings (NYSE:HSY)

The Hershey Company (NYSE:HSY) – DA Davidson decreased their Q3 2024 earnings estimates for shares of Hershey in a research report issued to clients and investors on Thursday, October 24th. DA Davidson analyst B. Holland now expects that the company will earn $2.48 per share for the quarter, down from their prior forecast of $2.71. The consensus estimate for Hershey’s current full-year earnings is $9.45 per share. DA Davidson also issued estimates for Hershey’s FY2024 earnings at $9.38 EPS and FY2025 earnings at $9.11 EPS.

A number of other equities analysts also recently commented on HSY. Redburn Atlantic assumed coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Bank of America dropped their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, UBS Group cut Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $191.55.

Hershey Price Performance

Shares of HSY opened at $181.26 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 4.22 and a beta of 0.37. Hershey has a 52 week low of $178.82 and a 52 week high of $211.92. The stock has a 50 day moving average of $192.50 and a 200-day moving average of $192.72.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 EPS.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 3.02%. Hershey’s payout ratio is 60.89%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hershey

Large investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its stake in 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 during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Hershey in the 2nd quarter worth $29,000. Crewe Advisors LLC acquired a new stake in shares of Hershey during the first quarter worth $35,000. Finally, Park Place Capital Corp purchased a new stake in shares of Hershey during the first quarter valued at $36,000. 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.