What is DA Davidson's Estimate for Hershey FY2024 Earnings?

The Hershey Company (NYSE:HSY - Free Report) - Research analysts at DA Davidson lowered their FY2024 earnings per share estimates for shares of Hershey in a note issued to investors on Monday, November 11th. DA Davidson analyst B. Holland now expects that the company will earn $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 subject of a number of other reports. Sanford C. Bernstein downgraded shares of Hershey from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and cut their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Stifel Nicolaus dropped 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. Royal Bank of Canada lowered their price target on Hershey from $205.00 to $183.00 and set a "sector perform" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price 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 research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $189.33.

Hershey Stock Up 0.0 %

NYSE:HSY traded up $0.06 during mid-day trading on Tuesday, reaching $178.57. The company's stock had a trading volume of 663,422 shares, compared to its average volume of 1,684,351. Hershey has a 1 year low of $171.67 and a 1 year high of $211.92. The company has a quick ratio of 0.48, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $36.12 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 4.22 and a beta of 0.38. The stock has a fifty day moving average of $188.88 and a 200-day moving average of $192.13.

Institutional Investors Weigh In On Hershey

Hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey during the 3rd quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its holdings in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock worth $26,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management acquired a new position in Hershey in the second quarter valued at about $29,000. Finally, Crewe Advisors LLC purchased a new position in Hershey during the first quarter worth about $35,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Dividend Announcement

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

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.