Hershey said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $1.04 per share ($4.14 annualized). Previously, the company paid $1.04 per share.
Shares must be purchased before the ex-div date of May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on June 15, 2023.
At the current share price of $273.33 / share, the stock's dividend yield is 1.52%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.14%, the lowest has been 1.57%, and the highest has been 2.95%. The standard deviation of yields is 0.36 (n=237).
The current dividend yield is 1.73 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.50. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.34%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 2198 funds or institutions reporting positions in Hershey. This is an increase of 83 owner(s) or 3.92% in the last quarter. Average portfolio weight of all funds dedicated to HSY is 0.44%, an increase of 17.82%. Total shares owned by institutions increased in the last three months by 0.31% to 182,507K shares. 
The put/call ratio of HSY is 0.88, indicating a bullish outlook.
Analyst Price Forecast Suggests 4.13% Downside
As of April 24, 2023, the average one-year price target for Hershey is 262.03. The forecasts range from a low of 237.35 to a high of $294.00. The average price target represents a decrease of 4.13% from its latest reported closing price of 273.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hershey is 11,089MM, an increase of 3.24%. The projected annual non-GAAP EPS is 9.02.
What are Other Shareholders Doing?
Hershey Trust holds 58,112K shares representing 28.44% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,464K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 4,381K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in HSY by 1.16% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,398K shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 3,330K shares, representing an increase of 2.00%. The firm decreased its portfolio allocation in HSY by 1.26% over the last quarter.
Geode Capital Management holds 3,198K shares representing 1.57% ownership of the company. In it's prior filing, the firm reported owning 3,157K shares, representing an increase of 1.30%. The firm decreased its portfolio allocation in HSY by 1.60% over the last quarter.
Renaissance Technologies holds 2,665K shares representing 1.30% ownership of the company. In it's prior filing, the firm reported owning 3,041K shares, representing a decrease of 14.09%. The firm decreased its portfolio allocation in HSY by 10.96% over the last quarter.
Hershey Background Information
(This description is provided by the company.)
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 16,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive $8 billionin annual revenues, including such iconic brand names as Hershey's®, Reese's®, Kit Kat®, Jolly Rancher®, Ice Breakers®, SkinnyPop®, and Pirate's Booty®. For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
