Hershey Company (The) (HSY) To Go Ex-Dividend on November 21st
Hershey Company (The) (NYSE:HSY) announced a quarterly dividend on Friday, October 6th, RTT News reports. Investors of record on Wednesday, November 22nd will be given a dividend of 0.656 per share on Friday, December 15th. This represents a $2.62 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, November 21st.
Hershey Company (The) has increased its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Hershey Company (The) has a payout ratio of 54.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hershey Company (The) to earn $5.15 per share next year, which means the company should continue to be able to cover its $2.62 annual dividend with an expected future payout ratio of 50.9%.
Hershey Company (NYSE HSY) opened at $107.42 on Thursday. The stock has a market capitalization of $23,143.99, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.99 and a beta of 0.36. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. Hershey Company has a fifty-two week low of $95.68 and a fifty-two week high of $116.49.
Hershey Company (The) (NYSE:HSY) last announced its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. Hershey Company (The) had a return on equity of 124.06% and a net margin of 9.52%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. equities analysts expect that Hershey Company will post 4.8 EPS for the current year.
Hershey Company (The) declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of research analysts have recently weighed in on HSY shares. Zacks Investment Research upgraded Hershey Company (The) from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Monday, October 2nd. Citigroup Inc. raised their target price on Hershey Company (The) from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Credit Suisse Group restated a “buy” rating and issued a $121.00 target price on shares of Hershey Company (The) in a report on Friday, July 28th. Susquehanna Bancshares Inc set a $118.00 target price on Hershey Company (The) and gave the company a “hold” rating in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $114.00 price target on shares of Hershey Company (The) in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $113.35.
In other news, insider Michele Buck sold 400 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the sale, the insider now owns 165,697 shares of the company’s stock, valued at approximately $17,895,276. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $106.01, for a total value of $477,045,000.00. The disclosure for this sale can be found here. Insiders have sold 4,534,049 shares of company stock valued at $480,760,013 in the last three months. 0.92% of the stock is owned by corporate insiders.
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Hershey Company (The) Company Profile
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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