Hershey Co (HSY) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.85 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.78. The company posted revenue of $1637.70 million in the period, compared to analysts expectations of $1608.86 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Many Wall Street Analysts have commented on Hershey Co. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 105 from a previous price target of $92 .Hershey Co was Downgraded by Argus to ” Hold” on Jul 5, 2016.
Hershey Co opened for trading at $109.48 and hit $112.22 on the upside on Thursday, eventually ending the session at $111.35, with a gain of 2.92% or 3.16 points. The heightened volatility saw the trading volume jump to 21,31,190 shares. Company has a market cap of $23,759 M.
In a different news, on Jul 18, 2016, D Michael Wege (SVP, GS, India, ME, Comm & CSR) sold 1,100 shares at $108.43 per share price. According to the SEC, on Jul 1, 2016, Michele Buck (EVP, Chief Operating Officer) sold 13,500 shares at $108.70 per share price. On Jun 15, 2016, Kevin R Walling (SVP Chief HR Officer) sold 13,568 shares at $96.12 per share price, according to the Form-4 filing with the securities and exchange commission.
The Hershey Company (Hershey) is a provider of chocolate and sugar confectionery. The Companys principal confectionery offerings include chocolate and sugar confectionery products; pantry items such as baking ingredients toppings and beverages; snack items such as spreads and gum and mint refreshment products. The Company operates through two segments: North America and International and Other. The North America segment is responsible for its chocolate and sugar confectionery business in the United States and Canada. The International and Other segment includes all other countries where the Company manufactures imports markets sells or distributes chocolate sugar confectionery and other products. This includes operations in Asia Latin America Europe Africa and the Middle East along with exports to these regions. This segment also includes its global retail operations including Hersheys Chocolate World stores.