Loading...

Hershey

DB:HSY
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HSY
DB
$23B
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
HSY Share Price and Events
7 Day Returns
2.5%
DB:HSY
1.4%
DE Food
1.2%
DE Market
1 Year Returns
23.5%
DB:HSY
-10%
DE Food
-11.2%
DE Market
HSY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hershey (HSY) 2.5% 2.8% 5.4% 23.5% 17.6% 26.8%
DE Food 1.4% -1.4% 2.6% -10% 6.3% -6.5%
DE Market 1.2% 2.7% 1.7% -11.2% 12% 6.1%
1 Year Return vs Industry and Market
  • HSY outperformed the Food industry which returned -10% over the past year.
  • HSY outperformed the Market in Germany which returned -11.2% over the past year.
Price Volatility
HSY
Industry
5yr Volatility vs Market

HSY Value

 Is Hershey undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hershey to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hershey.

DB:HSY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:HSY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9.8%
Food Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.504 (1 + (1- 21%) (19.28%))
0.581
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 9.77%)
8.05%

Discounted Cash Flow Calculation for DB:HSY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hershey is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:HSY DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 1,081.33 1,151.00 1,112.00 1,148.00 1,184.00
Source Analyst x3 Analyst x3 Analyst x1 Analyst x1 Analyst x1
Present Value
Discounted (@ 8.05%)
1,000.81 985.96 881.62 842.39 804.11
Present value of next 5 years cash flows $4,514.90
DB:HSY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $1,184.00 × (1 + 0.23%) ÷ (8.05% – 0.23%)
$15,179.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $15,179.84 ÷ (1 + 8.05%)5
$10,309.36
DB:HSY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $4,514.90 + $10,309.36
$14,824.27
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $14,824.27 / 209.81
$62.66
DB:HSY Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HSY represents 0.88677x of NYSE:HSY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88677x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 70.66 x 0.88677
€62.66
Value per share (EUR) From above. €62.66
Current discount Discount to share price of €97.74
= -1 x (€97.74 - €62.66) / €62.66
-56%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Hershey is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hershey's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hershey's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HSY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $5.61
NYSE:HSY Share Price ** NYSE (2019-02-22) in USD $110.22
Germany Food Industry PE Ratio Median Figure of 6 Publicly-Listed Food Companies 24.75x
Germany Market PE Ratio Median Figure of 420 Publicly-Listed Companies 18.04x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hershey.

DB:HSY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HSY Share Price ÷ EPS (both in USD)

= 110.22 ÷ 5.61

19.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hershey is good value based on earnings compared to the DE Food industry average.
  • Hershey is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Hershey's expected growth come at a high price?
Raw Data
DB:HSY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
2.9%per year
Europe Food Industry PEG Ratio Median Figure of 71 Publicly-Listed Food Companies 1.65x
Germany Market PEG Ratio Median Figure of 277 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

DB:HSY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.66x ÷ 2.9%

6.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hershey is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hershey's assets?
Raw Data
DB:HSY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $6.70
NYSE:HSY Share Price * NYSE (2019-02-22) in USD $110.22
Germany Food Industry PB Ratio Median Figure of 8 Publicly-Listed Food Companies 2.1x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.78x
DB:HSY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HSY Share Price ÷ Book Value per Share (both in USD)

= 110.22 ÷ 6.70

16.45x

* Primary Listing of Hershey.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hershey is overvalued based on assets compared to the DE Food industry average.
X
Value checks
We assess Hershey's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Hershey has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HSY Future Performance

 How is Hershey expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hershey expected to grow at an attractive rate?
  • Hershey's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Hershey's earnings growth is positive but not above the Germany market average.
  • Hershey's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HSY Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HSY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 2.9%
DB:HSY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 1.2%
Germany Food Industry Earnings Growth Rate Market Cap Weighted Average 40.6%
Europe Food Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:HSY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HSY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 8,156 1
2022-12-31 8,091 1
2021-12-31 8,124 1,506 1,278 6
2020-12-31 8,050 1,441 1,243 11
2019-12-31 7,937 1,384 1,181 14
DB:HSY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 7,791 1,178
2018-09-30 7,743 1,516 1,022
2018-07-01 7,696 1,517 1,031
2018-04-01 7,608 1,367 1,008
2017-12-31 7,515 1,250 783
2017-10-01 7,546 1,189 719
2017-07-02 7,516 980 673
2017-04-02 7,491 978 615
2016-12-31 7,440 1,013 720
2016-10-02 7,379 1,070 817
2016-07-03 7,336 1,097 744
2016-04-03 7,278 1,225 498

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hershey's earnings are expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
  • Hershey's revenue is expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:HSY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Hershey Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HSY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 6.31 6.40 6.21 2.00
2020-12-31 6.02 6.27 5.91 4.00
2019-12-31 5.65 5.74 5.59 5.00
DB:HSY Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 5.61
2018-09-30 4.86
2018-07-01 4.89
2018-04-01 4.76
2017-12-31 3.69
2017-10-01 3.38
2017-07-02 3.16
2017-04-02 2.88
2016-12-31 3.36
2016-10-02 3.79
2016-07-03 3.44
2016-04-03 2.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Hershey is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Hershey's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hershey has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HSY Past Performance

  How has Hershey performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hershey's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hershey's year on year earnings growth rate has been positive over the past 5 years.
  • Hershey's 1-year earnings growth exceeds its 5-year average (50.4% vs 5.7%)
  • Hershey's earnings growth has exceeded the DE Food industry average in the past year (50.4% vs 5.5%).
Earnings and Revenue History
Hershey's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hershey Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HSY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7,791.07 1,177.56 1,814.79
2018-09-30 7,742.80 1,021.90 1,805.38 45.85
2018-07-01 7,696.33 1,031.49 1,846.02 45.85
2018-04-01 7,607.71 1,008.14 1,855.53 45.85
2017-12-31 7,515.43 782.98 1,855.29 45.85
2017-10-01 7,546.03 718.70 1,856.72 47.27
2017-07-02 7,516.37 672.80 1,830.96 47.27
2017-04-02 7,491.05 615.26 1,838.89 47.27
2016-12-31 7,440.18 720.04 1,845.23 47.27
2016-10-02 7,379.16 816.58 1,830.15 49.28
2016-07-03 7,336.48 743.94 1,848.34 49.28
2016-04-03 7,277.64 498.05 1,841.75 49.28
2015-12-31 7,386.63 512.95 1,889.07 49.28
2015-10-04 7,487.43 502.08 1,960.04
2015-07-05 7,488.23 571.05 1,946.22
2015-04-05 7,487.76 839.15 1,927.55
2014-12-31 7,421.77 846.91 1,834.51 47.55
2014-09-28 7,367.99 830.48 1,910.59
2014-06-29 7,260.30 839.72 1,916.44
2014-03-30 7,190.47 831.06 1,932.71
2013-12-31 7,146.08 820.47 1,920.35
2013-09-29 6,940.86 784.27 1,854.26
2013-06-30 6,833.68 728.01 1,793.36
2013-03-31 6,739.61 704.19 1,737.96
2012-12-31 6,644.25 660.93 1,687.98
2012-09-30 6,460.36 653.19 1,612.02
2012-07-01 6,337.90 673.16 1,546.64
2012-04-01 6,248.63 667.50 1,500.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Hershey made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Hershey used its assets more efficiently than the DE Food industry average last year based on Return on Assets.
  • Hershey's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hershey's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hershey has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HSY Health

 How is Hershey's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hershey's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hershey's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Hershey's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Hershey's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hershey Company Filings, last reported 1 month ago.

DB:HSY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,407.27 4,457.60 588.00
2018-09-30 1,249.27 4,706.22 823.79
2018-07-01 1,063.82 4,601.02 467.35
2018-04-01 989.66 4,609.48 476.43
2017-12-31 931.57 2,920.48 380.18
2017-10-01 838.98 3,169.82 275.06
2017-07-02 869.98 2,971.81 214.06
2017-04-02 845.45 2,838.59 235.03
2016-12-31 827.69 2,980.17 296.97
2016-10-02 942.07 3,224.87 333.33
2016-07-03 774.66 3,068.38 250.19
2016-04-03 879.35 2,591.97 285.96
2015-12-31 1,047.46 2,460.83 346.53
2015-10-04 937.13 2,768.59 343.91
2015-07-05 1,238.27 2,435.33 401.97
2015-04-05 1,344.52 2,518.01 405.17
2014-12-31 1,519.53 2,177.82 471.99
2014-09-28 1,607.86 2,462.18 580.48
2014-06-29 1,608.56 1,992.86 659.82
2014-03-30 1,669.06 1,976.48 1,006.10
2013-12-31 1,616.05 1,962.02 1,118.51
2013-09-29 1,350.58 1,906.39 701.33
2013-06-30 1,121.73 1,896.89 568.36
2013-03-31 1,112.56 1,893.28 730.10
2012-12-31 1,048.37 1,906.87 728.27
2012-09-30 996.96 1,991.32 466.24
2012-07-01 1,085.97 1,996.98 589.78
2012-04-01 885.59 1,993.09 567.34
  • Hershey's level of debt (316.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (121.4% vs 316.8% today).
  • Debt is well covered by operating cash flow (34%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.8x coverage).
X
Financial health checks
We assess Hershey's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hershey has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HSY Dividends

 What is Hershey's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.62%
Current annual income from Hershey dividends. Estimated to be 2.88% next year.
If you bought €2,000 of Hershey shares you are expected to receive €52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hershey's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.54%).
  • Hershey's dividend is below the markets top 25% of dividend payers in Germany (3.93%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:HSY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Germany Food Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 332 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:HSY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.43 6.00
2020-12-31 3.21 9.00
2019-12-31 3.00 11.00
DB:HSY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-31 2.888 2.670
2018-10-25 2.888 2.705
2018-07-26 2.888 2.834
2018-05-04 2.624 2.835
2018-02-01 2.624 2.689
2017-10-06 2.624 2.383
2017-07-26 2.624 2.454
2017-05-02 2.472 2.256
2017-02-03 2.472 2.280
2016-10-14 2.472 2.449
2016-07-28 2.472 2.421
2016-05-04 2.332 2.364
2016-01-28 2.332 2.557
2015-10-06 2.332 2.639
2015-08-07 2.332 2.559
2015-04-27 2.140 2.327
2015-01-29 2.140 2.101
2014-10-03 2.140 2.152
2014-07-24 2.140 2.330
2014-04-28 1.940 2.009
2014-01-30 1.940 1.885
2013-10-08 1.940 2.004
2013-07-25 1.940 2.073
2013-04-30 1.680 1.877
2013-01-31 1.680 1.987
2012-10-25 1.680 2.290
2012-08-07 1.520 2.126
2012-04-30 1.520 2.190
2012-02-01 1.520 2.482
2011-10-03 1.380 2.332
2011-08-02 1.380 2.406
2011-04-28 1.380 2.452
2011-02-02 1.380 2.583
2010-10-05 1.280 2.659
2010-08-03 1.280 2.731
2010-05-04 1.280 2.638
2010-02-02 1.280 3.050
2009-10-09 1.190 3.205
2009-08-04 1.190 3.034
2009-04-29 1.190 3.271
2009-02-24 1.190 3.438

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Hershey's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Hershey's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hershey afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hershey has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HSY Management

 What is the CEO of Hershey's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michele Buck
COMPENSATION $10,274,601
AGE 56
TENURE AS CEO 1.9 years
CEO Bio

Ms. Michele Gross Buck has been the Chief Executive Officer and President at The Hershey Company since March 1, 2017. Ms. Buck is responsible for all day-to-day global operations and commercial activities of Hershey Company. Ms. Buck served as the Chief Operating Officer and Executive Vice President at The Hershey Company from June 2, 2016 to March 1, 2017 and also served as its President of North America since May 13, 2013 to June 2016. Having served at Hershey Company for more than 12 years and as an executive in the consumer packaged goods industry for more than 25 years, Ms. Buck is a valuable contributor to the Board in the areas of marketing, consumer products, strategy, supply chain management and mergers and acquisitions. Ms. Buck had full profit and loss responsibility for Hershey's North America business which represents the company's largest, most profitable markets, in the U.S. and Canada. She led Hershey's North American day-to-day commercial operations and is building on the company's competitive advantages. Ms. Buck served as a Senior Vice President of Hershey Co. since December 2007 to May 2013 and served as its Chief Growth Officer since September 21, 2011 to May 2013 and Global Chief Marketing Officer from December 2007 to September 2011. She served as the Chief Marketing Officer of US Commercial Group of Hershey Foods Corp. since November 21, 2005. She was responsible for driving world-class marketing and transformational growth platforms across Hershey Foods and lead its efforts in the areas of consumer insights, portfolio strategy and innovation, The Hershey Experience, marketing excellence and corporate social responsibility. Before joining Hershey in 2005, Ms. Buck served 17 years at Kraft/Nabisco and at the Frito-Lay division of PepsiCo in various senior roles. Among the many household names she has been responsible for during the course of her long career at Nabisco and Kraft are Jell-O, Cool Whip, Life-Savers, Planters, Altoids and Light n' Lively and Breyers Yogurt. Ms. Buck began her career as an assistant product manager with Frito-Lay in 1987. She served as President Of U.S. Snacks Group of Hershey Foods Corp. since April 15, 2005. Ms. Buck joined Hershey from Kraft Foods, where She served as Senior Vice President and General Manager for Kraft Confections. In that position, She had responsibility for the Kraft U.S. confections business including its LifeSavers, Altoids, CremeSavers and Toblerone brands. Her previous positions with Kraft include Vice President of Marketing for Confections; and Vice President of Marketing for Planters snack nuts. She served marketing positions with Kraft General Foods. She has been a Director of New York Life Insurance Company since November 1, 2013 and has been its Lead Director since July 1, 2018. She has been a Director of The Hershey Company since March 2017. Ms. Buck is ranked as one of Fortune’s Most Powerful Women and serves as the Benefit Co-Chair of the Children’s Brain Tumor Foundation. Ms. Buck holds a Master of Business Administration from the University of North Carolina and a Bachelor of Science degree in business administration from Shippensburg University.

CEO Compensation
  • Michele's compensation has been consistent with company performance over the past year.
  • Michele's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Hershey management team in years:

1.9
Average Tenure
56
Average Age
  • The average tenure for the Hershey management team is less than 2 years, this suggests a new team.
Management Team

Michele Buck

TITLE
President
COMPENSATION
$10M
AGE
56
TENURE
1.9 yrs

Patricia Little

TITLE
Senior VP & CFO
COMPENSATION
$3M
AGE
57
TENURE
3.9 yrs

Terry O'Day

TITLE
Senior VP and Chief Product Supply & Technology Officer
COMPENSATION
$4M
AGE
68
TENURE
1.8 yrs

Todd Tillemans

TITLE
President of US
COMPENSATION
$3M
AGE
56
TENURE
1.8 yrs

Javier Idrovo

TITLE
Chief Accounting Officer
AGE
50
TENURE
3.5 yrs

Melissa Poole

TITLE
Senior Director of Investor Relations

Damien Atkins

TITLE
Senior VP
AGE
47
TENURE
0.5 yrs

Kevin Walling

TITLE
Senior VP of Corporate Communications & Corporate Social Responsibility and Chief HR Officer
COMPENSATION
$3M
AGE
53
TENURE
7.3 yrs

Rob Gehring

TITLE
Global Chief Sales Officer
TENURE
3.1 yrs

Steven Schiller

TITLE
President of International
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Hershey board of directors in years:

3.7
Average Tenure
64.5
Average Age
  • The tenure for the Hershey board of directors is about average.
Board of Directors

Chuck Davis

TITLE
Chairman of the Board
COMPENSATION
$277K
AGE
70
TENURE
0.8 yrs

Michele Buck

TITLE
President
COMPENSATION
$10M
AGE
56
TENURE
1.9 yrs

David Shedlarz

TITLE
Independent Director
COMPENSATION
$265K
AGE
69
TENURE
10.5 yrs

Tony Palmer

TITLE
Independent Director
COMPENSATION
$255K
AGE
58
TENURE
7.8 yrs

Rob Malcolm

TITLE
Independent Director
COMPENSATION
$265K
AGE
66
TENURE
7.2 yrs

Mary Haben

TITLE
Independent Director
COMPENSATION
$265K
AGE
62
TENURE
5.5 yrs

Pamela Arway

TITLE
Independent Director
COMPENSATION
$260K
AGE
64
TENURE
8.8 yrs

James Brown

TITLE
Director
COMPENSATION
$171K
AGE
66
TENURE
1.8 yrs

Mary Koken

TITLE
Director
COMPENSATION
$166K
AGE
65
TENURE
1.8 yrs

Wendy Schoppert

TITLE
Director
COMPENSATION
$8K
AGE
52
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
08. Nov 18 Sell Milton Hershey School Trust Company 07. Nov 18 07. Nov 18 -4,500,000 €92.65 €-416,929,860
07. Nov 18 Buy Todd Tillemans Individual 06. Nov 18 06. Nov 18 2,000 €94.03 €188,068
30. Oct 18 Sell Milton Hershey School Trust Company 29. Oct 18 29. Oct 18 -47,170 €93.12 €-4,392,518
30. Oct 18 Buy Milton Hershey School Trust Company 29. Oct 18 29. Oct 18 47,170 €93.12 €4,392,518
29. May 18 Sell David Shedlarz Individual 24. May 18 24. May 18 -5,450 €77.83 €-424,158
X
Management checks
We assess Hershey's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hershey has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HSY News

Simply Wall St News

HSY Company Info

Map
Description

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies. The company provides its products primarily under the Hershey’s, Reese’s, Kisses, Jolly Rancher, Almond Joy, Brookside, barkTHINS, Cadbury, Good & Plenty, Heath, Kit Kat, Lancaster, Payday, Rolo, Twizzlers, Whoppers, York, Scharffen Berger, Dagoba, Ice Breakers, Breathsavers, and Bubble Yum brands, as well as under the Krave, Popwell, SkinnyPop, Pirate's Boot, Oatmega, Paqui, Pelon Pelo Rico, IO-IO, Nutrine, Maha Lacto, Jumpin, Sofit, , and Tyrrells brands. It markets and sells its products to wholesale distributors, chain grocery stores, mass merchandisers, chain drug stores, vending companies, wholesale clubs, convenience stores, dollar stores, concessionaires, and department stores. The Hershey Company was founded in 1894 and is headquartered in Hershey, Pennsylvania.

Details
Name: The Hershey Company
HSY
Exchange: DB
Founded: 1894
$20,393,950,193
209,807,788
Website: http://www.thehersheycompany.com
Address: The Hershey Company
100 Crystal A Drive,
Hershey,
Pennsylvania, 17033,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HSY Common Stock New York Stock Exchange US USD 02. Jan 1968
DB HSY Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0J4X Common Stock London Stock Exchange GB USD 02. Jan 1968
BOVESPA HSHY34 BDR REPR 1/5 COM USD1.00 Bolsa de Valores de Sao Paulo BR BRL 27. Jul 2015
Number of employees
Current staff
Staff numbers
16,135
Hershey employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 21:10
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2019/02/14
Last earnings filing: 2019/01/31
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.