DA Davidson Comments on Hershey’s FY2024 Earnings (NYSE:HSY)

The Hershey Company (NYSE:HSY) – Analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Hershey in a research report issued to clients and investors on Monday, November 11th. DA Davidson analyst B. Holland now anticipates that the company will post earnings of $9.07 per share for the year, down from their previous estimate of $9.38. The consensus estimate for Hershey’s current full-year earnings is $9.12 per share. DA Davidson also issued estimates for Hershey’s Q4 2024 earnings at $2.39 EPS.

HSY has been the topic of several other research reports. Stifel Nicolaus decreased their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Bank of America dropped their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $189.33.

Hershey Price Performance

Shares of HSY opened at $178.50 on Tuesday. The firm has a 50-day simple moving average of $189.17 and a two-hundred day simple moving average of $192.20. The stock has a market cap of $36.11 billion, a PE ratio of 20.56, a P/E/G ratio of 4.22 and a beta of 0.38. Hershey has a 1-year low of $171.67 and a 1-year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.48.

Hedge Funds Weigh In On Hershey

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey during the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management acquired a new stake in Hershey during the second quarter worth about $29,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.07%. Hershey’s dividend payout ratio is presently 63.13%.

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.