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

The Hershey Company (NYSE:HSY) – Investment analysts at DA Davidson reduced their FY2024 earnings estimates for Hershey in a research report issued to clients and 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 prior 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.

A number of other research firms have also issued reports on HSY. Piper Sandler boosted their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and cut their target price for the company from $226.00 to $209.00 in a research note on Monday, October 7th. The Goldman Sachs Group assumed coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and cut their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Price Performance

Shares of NYSE:HSY opened at $181.50 on Tuesday. 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 50-day simple moving average of $188.88 and a 200 day simple moving average of $192.13. The company has a market cap of $36.72 billion, a PE ratio of 20.91, a P/E/G ratio of 4.22 and a beta of 0.38. Hershey has a fifty-two week low of $171.67 and a fifty-two week high of $211.92.

Hedge Funds Weigh In On Hershey

A number of institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the third quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its position in 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 in the last quarter. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Hershey in the second quarter valued at $29,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Hershey in the first quarter worth $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Announces Dividend

The business also recently declared 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 of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.02%. Hershey’s dividend payout ratio (DPR) is 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.