The Hershey Company Announces Quarterly Dividend of $1.37 (NYSE:HSY)

The Hershey Company (NYSE:HSYGet Free Report) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Friday, May 17th will be given a dividend of 1.37 per share on Friday, June 14th. This represents a $5.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, May 16th.

Hershey has increased its dividend by an average of 12.2% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Hershey has a payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hershey to earn $9.73 per share next year, which means the company should continue to be able to cover its $5.48 annual dividend with an expected future payout ratio of 56.3%.

Hershey Stock Performance

Shares of Hershey stock traded down $1.34 on Wednesday, reaching $207.55. 82,217 shares of the company were exchanged, compared to its average volume of 1,965,505. Hershey has a 1-year low of $178.82 and a 1-year high of $270.52. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 3.23 and a beta of 0.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The company’s 50-day moving average is $193.67 and its two-hundred day moving average is $191.21.

Hershey (NYSE:HSYGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $2.96 earnings per share. As a group, research analysts expect that Hershey will post 9.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on HSY. Morgan Stanley lowered shares of Hershey from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $191.00 to $183.00 in a research note on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. Stifel Nicolaus lifted their price objective on shares of Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company increased their target price on shares of Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Finally, BNP Paribas lowered shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target for the company. in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $213.06.

Get Our Latest Stock Report on HSY

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $197.90, for a total value of $296,850.00. Following the completion of the sale, the chief financial officer now owns 40,228 shares in the company, valued at approximately $7,961,121.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Hershey Company Profile

(Get Free Report)

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.

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Dividend History for Hershey (NYSE:HSY)

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