FY2024 EPS Estimates for Hershey Decreased by Zacks Research

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

Several other research analysts have also weighed in on the company. The Goldman Sachs Group started coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Jefferies Financial Group dropped their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday, October 31st. Barclays decreased their price target on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Bank of America lowered their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, Hershey has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

HSY opened at $176.13 on Monday. The firm has a market capitalization of $35.64 billion, a P/E ratio of 20.29, a PEG ratio of 4.22 and a beta of 0.38. The stock has a fifty day moving average of $182.20 and a 200-day moving average of $189.81. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. Hershey has a 12-month low of $168.16 and a 12-month high of $211.92.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is 63.13%.

Hedge Funds Weigh In On Hershey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Hershey in the third quarter valued at about $1,337,000. LPL Financial LLC increased its position in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after buying an additional 29,246 shares during the period. MAI Capital Management increased its position in Hershey by 11.6% in the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock worth $23,620,000 after buying an additional 12,832 shares during the period. Portfolio Design Labs LLC acquired a new position in shares of Hershey during the third quarter worth approximately $1,852,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Hershey by 18.9% in the third quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock worth $5,386,000 after acquiring an additional 4,464 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

About Hershey

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.