The Hershey Company (HSY) to Issue Quarterly Dividend of $1.37 on March 14th

The Hershey Company (NYSE:HSY) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Monday, February 17th will be given a dividend of 1.37 per share on Friday, March 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th.

Hershey has raised its dividend by an average of 17.1% per year over the last three years and has increased its dividend every year for the last 15 years. Hershey has a payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hershey to earn $7.72 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 71.0%.

Hershey Stock Down 0.6 %

Shares of Hershey stock opened at $157.39 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. Hershey has a 52-week low of $140.13 and a 52-week high of $211.92. The company has a market capitalization of $31.85 billion, a P/E ratio of 14.47, a P/E/G ratio of 4.89 and a beta of 0.37. The company has a 50 day moving average of $163.49 and a 200 day moving average of $179.86.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, research analysts forecast that Hershey will post 6.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Stifel Nicolaus lowered their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, February 7th. Bank of America reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Finally, Citigroup upgraded shares of Hershey from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Six research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $165.05.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

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.