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MarketScreener Homepage  >  Equities  >  Nyse  >  The Hershey Company    HSY

THE HERSHEY COMPANY

(HSY)
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Hershey Pushes Up Prices, But Sales Volume Climbs

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04/25/2019 | 08:04am EDT

By Micah Maidenberg

Hershey Co. said the retailers that make up its customer base bought more of its chocolate and snacks in the first quarter, even though it pushed up prices on those items.

The maker of chocolate Kisses and Reese's peanut butter cups on Thursday said volumes were up 1.7% for the quarter. In North America, the company's largest market, volumes gained 1.4%, as prices ticked up 0.4%.

Last summer, the company told retailers and shareholders it would raise prices by 2.5% on average, an increase that began to take effect earlier this year.

More costly chocolate supported Hershey's adjusted gross profit margin, a key measure of profitability, which was up 0.8 percentage points from a year earlier to 45.7%. Hershey said more favorable raw-material costs helped improve its margins.

Shares of Hershey, up 9% so far this year, gained 3% in premarket trading Thursday on light volume.

The Hershey, Pa., company depends on chocolate for most of its sales, but has moved to develop its savory-snacks portfolio. Last year, it acquired Pirate's Booty cheese puffs from B&G Foods Inc. The company also purchased Amplify Snack Brands, which owns SkinnyPop popcorn and other snacks.

Overall, sales rose about 2% from the first quarter last year to $2.02 billion. Analysts expected $1.99 billion in sales, according to FactSet.

Hershey reported a profit of $304.4 million, or $1.45 a share, down from $350.2 million, or $1.65 a share, a year earlier.

After adjustments related to derivatives and acquisitions, the company recorded earnings of $1.59 a share, more than the $1.46 a share analysts predicted.

Earlier this month, Hershey said it had hired a new finance chief and appointed a new executive to lead its international business as president.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHEESE FUTURES (CSC) - CMG (ELECTRONIC)/C1 -0.05% 1.829 End-of-day quote.32.63%
LONDON SUGAR -0.45% 307.7 End-of-day quote.-7.87%
NEW YORK COCOA 1.95% 2191 End-of-day quote.-9.43%
THE HERSHEY COMPANY 1.45% 158.75 Delayed Quote.48.12%
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Financials (USD)
Sales 2019 7 946 M
EBIT 2019 1 702 M
Net income 2019 1 207 M
Debt 2019 3 569 M
Yield 2019 1,92%
P/E ratio 2019 27,5x
P/E ratio 2020 26,0x
EV / Sales2019 4,64x
EV / Sales2020 4,51x
Capitalization 33 271 M
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Technical analysis trends THE HERSHEY COMPANY
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 146,88  $
Last Close Price 158,75  $
Spread / Highest target 7,09%
Spread / Average Target -7,48%
Spread / Lowest Target -20,6%
EPS Revisions
Managers
NameTitle
Michele G. Buck President, Chief Executive Officer & Director
Charles Arthur Davis Chairman
Patricia A. Little Chief Financial Officer & Senior Vice President
Terence L. O'Day Chief Product Supply & Technology Officer, SVP
William C. Papa Chief Research & Development Officer, Senior VP
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