Hershey Layoffs: Hershey Co (HSY) to Cut 2000+ Jobs

Hershey's chocolate bars are displayed on a newsstand in New York

Hershey's chocolate bars are displayed on a newsstand in New York

Hershey (HSY) lags so far behind its global competitors, that it was no surprise when it announced Tuesday it would slash 15% of its workforce, mostly outside the USA, to amp up profitability. NY raised its position in Hershey Company (The) by 444.8% in the second quarter. First Trust Advisors LP now owns 846,886 shares of the company's stock worth $80,962,000 after buying an additional 719,546 shares during the period. This is calculated by taking the current share price and dividing it by the forecasted earnings per share.

Large investors have recently bought and sold shares of the company.

Hershey Company (NYSE: HSY) traded up 0.617% on Tuesday, hitting $108.465. The stock has a 50 day moving average of $106.65 and a 200-day moving average of $101.68. The firm has a market capitalization of $23.02 billion, a PE ratio of 32.44 and a beta of 0.32.

Another important factor to consider when evaluating a stock's current and future value are the 52 week high and low levels. The company is expected to release $1.26 EPS for current quarter according to 14 analysts whereas the company reported $1.1 EPS during same quarter a year ago. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.15 billion. The EPS growth for the past five (5) years shows a value of 3.80%, whilst the EPS value for the next five (5) years shows a figure of 9.00%. The analysts offering Earnings Estimates for the company were believing that The Hershey Company (NYSE: HSY) could bring EPS of $1.08/share.

On 2/3/2017 Hershey Company (The) announced a quarterly dividend of $0.62 2.31% with an ex-dividend date of 2/22/2017 which will be payable on 3/15/2017. The dividend will be paid on April 11, 2017, to shareholders of record as of March 31, 2017. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $2.47 annualized dividend and a yield of 2.29%.

Hershey made an ill-timed acquisition of a candy company in 2014 in China, which was just as China's economy slowed and its rivals also made a big push into the country. Argus upgraded Hershey Company (The) from a hold rating to a buy rating and set a $125.00 price target on the stock in a research note on Thursday, February 16th. Zacks Investment Research lowered shares of Hershey Company (The) from a "hold" rating to a "sell" rating in a research report on Monday, October 17th. Credit Suisse Upgrades the company's stock to Outperform on 1/06/17 with no specific Price Target. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. They set a sell rating and a $90.00 price objective for the company. The Mean and Low price Targets are $108.63 and $91, respectively. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Analyst's mean target price for HSY is $107.69 while analysts mean recommendation is 2.90.

In related news, SVP D Michael Wege sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 15th. A year ago the company's sales were $1.83B. The sale was disclosed in a filing with the SEC, which is accessible through this link. The total volume of 7.41 Million shares held in the session was surprisingly higher than its average volume of 6280.29 shares.

Recommended News

  • Revenue Update on New Residential Investment Corp(NYSE:NRZ)

    Revenue Update on New Residential Investment Corp(NYSE:NRZ)

    On average, analysts expect that New Residential Investment Corp. will post $2.11 earnings per share for the current year. The share price is now 4.18 percent versus its SMA20, 4.91 percent versus its SMA50, and 20.31 percent versus its SMA200.
    Indian teen wakes up on way to own funeral

    Indian teen wakes up on way to own funeral

    Marewad's parents made the decision to turn off life support and allow their son to die at home. Once again the young boy was rushed to a nearby hospital and was put back on the ventilator.
    April the Giraffe due to give birth at any moment

    April the Giraffe due to give birth at any moment

    The stream was later restored, and more than 53,000 people were watching the stream live as of about 3:10 p.m. At birth it will weigh in at about 150 lb. and will stand at about 6' tall, Animal Adventure Park said.
  • Mega Millions winning ticket will expire soon

    Mega Millions winning ticket will expire soon

    Somewhere there is a winning Mega Millions ticket sold in Virginia that is in danger of becoming just another scrap of paper. Someone who bought a Mega Millions lottery ticket in Chesapeake previous year is in danger of losing a million-dollar prize.
    Samsung Galaxy S7 Edge Named Best Smartphone At Mobile World Congress 2017

    Samsung Galaxy S7 Edge Named Best Smartphone At Mobile World Congress 2017

    Maybe the first thing to get excited about is the potential for a Samsung Galaxy Note 5 Nougat release next month. However, that did not stop fans from speculating that a new Samsung Galaxy Note 8 might come out in 2017.
    Metallic Hydrogen Disappears from Lab

    Metallic Hydrogen Disappears from Lab

    According to Silvera, the metallic hydrogen could be useful in everything from our electrical grid to hospital MRI machines. At the moment, they have no clue about the disappearance of what was the only metallic hydrogen sample ever known.
  • Premier League review: Chelsea go 11 points clear

    Premier League review: Chelsea go 11 points clear

    Chelsea are eight points clear on the top and play Swansea at home on Saturday. We are playing good football, with good intensity, scoring a lot of goals.
    JC Penney closing up to 140 stores, offering retirement buyouts

    JC Penney closing up to 140 stores, offering retirement buyouts

    Penney is taking "aggressive action to better align our retail operations for sustainable growth". Net sales of $3.961 billion, down 0.9% from $3.996 billion during the same time past year .

    Flip Or Flop Star Christina El Moussa Is Single Once Again!

    In the end, Christina expressed her utmost gratitude for her fans who supported her throughout the challenges she faced. Their priority, however, is their two children, 1-year-old son Brayden and 6-year-old daughter Taylor , he said .
  • All-Star Tribute to Merle Haggard Scheduled in Nashville

    Don Was , Buddy Cannon and Ben Haggard will serve as music directors and preside over a house band backing the performers. Keith Wortman, Mark Rothbaum and Theresa Haggard are the creators and executive producers of the show.

    Nintendo Switch: How to Connect to Internet With an Ethernet Cable

    By default, the Nintendo Switch will try to connect to the internet wirelessly because it doesn't actually have an Ethernet port. I didn't ever feel like I was embarrassed to be playing this thing in public due to the premium design of the Nintendo Switch .

    East Windsor approves third casino development in CT

    While the tribes have operated gambling casinos in CT for many years, both are on tribal land and fall under federal laws. Connecticut's new gambling venue will come as a direct competitor to the aforementioned multi-million-dollar project.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.