Hershey Co (NYSE:HSY) Announces Dividend Increase – $0.77 Per Share
Hershey Co (NYSE:HSY) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.773 per share on Monday, September 16th. This represents a $3.09 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, August 22nd. This is a positive change from Hershey’s previous quarterly dividend of $0.72.
Hershey has increased its dividend by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 9 years. Hershey has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hershey to earn $6.08 per share next year, which means the company should continue to be able to cover its $3.09 annual dividend with an expected future payout ratio of 50.8%.
Shares of HSY opened at $156.48 on Wednesday. The stock has a market capitalization of $32.58 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 3.38 and a beta of 0.09. Hershey has a 1 year low of $98.50 and a 1 year high of $158.40. The business’s 50 day simple moving average is $147.68 and its 200-day simple moving average is $127.37. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48.
In other Hershey news, CEO Michele Buck sold 6,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $129.14, for a total value of $774,840.00. Following the transaction, the chief executive officer now owns 163,429 shares of the company’s stock, valued at approximately $21,105,221.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd W. Tillemans acquired 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $129.92 per share, for a total transaction of $259,840.00. Following the transaction, the insider now directly owns 15,773 shares in the company, valued at $2,049,228.16. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,100 shares of company stock worth $401,990 and have sold 137,076 shares worth $18,940,324. Corporate insiders own 0.41% of the company’s stock.
HSY has been the topic of several recent research reports. Citigroup increased their price target on Hershey from $140.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets increased their price target on Hershey to $133.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Evercore ISI initiated coverage on Hershey in a report on Tuesday, June 11th. They set an “in-line” rating and a $145.00 price target on the stock. Barclays increased their price target on Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, UBS Group upgraded Hershey from a “sell” rating to a “neutral” rating and increased their price target for the company from $100.00 to $145.00 in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $138.71.
Hershey Company Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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