Hershey (HSY)

• Market cap: $34.5B
• 1 day: 0.78%
• 5 days: -6.50%
• 1 month: -2.15%
• 3 months: -12.88%
• 6 months: -6.45%
• Year to date: -11.34%
• 1 year: -5.16%
• 5 years: 15.48%
• 10 years: 62.14%
• Sector: Consumer Staples
• Industry: Sugar & Confectionery Products

About: Hershey is a leading us confectionery manufacturer (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the us, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.

Employees: 20,505

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

10% more repeat investments, than reductions

Existing positions increased: 519 | Existing positions reduced: 470

1.17% more ownership

Funds ownership: 81.15% [Q2] → 82.31% (+1.17%) [Q3]

7% more call options, than puts

Call options by funds: $508M | Put options by funds: $475M

6% more first-time investments, than exits

New positions opened: 128 | Existing positions closed: 121

5% more capital invested

Capital invested by funds: $22.3B [Q2] → $23.4B (+$1.11B) [Q3]

1% more funds holding

Funds holding: 1,360 [Q2] → 1,367 (+7) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 9 [Q2] → 9 (+0) [Q3]

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $160 6% downside
• Avg. target: $182 7% upside
• High target: $209 23% upside

13 analyst ratings

• positive: 0 0%
• neutral: 10 77%
• negative: 3 23%

Wells Fargo Chris Carey 33% 1-year accuracy 11 / 33 met price target	6% downside $160	Underweight Downgraded	12 Dec 2024
B of A Securities Peter Galbo 30% 1-year accuracy 3 / 10 met price target	6% upside $180	Neutral Reinstated	12 Dec 2024
RBC Capital Nik Modi 31% 1-year accuracy 11 / 36 met price target	7% upside $183	Sector Perform Reiterated	10 Dec 2024
Mizuho John Baumgartner 70% 1-year accuracy 14 / 20 met price target	15% upside $195	Neutral Maintained	10 Dec 2024
Barclays Andrew Lazar 50% 1-year accuracy 8 / 16 met price target	6% upside $180	Equal-Weight Maintained	11 Nov 2024