Hershey (HSY)

• Market cap: $30.9B
• 1 day: -0.75%
• 5 days: -3.96%
• 1 month: -13.94%
• 3 months: -16.87%
• 6 months: -21.20%
• Year to date: -9.43%
• 1 year: -20.19%
• 5 years: 1.34%
• 10 years: 38.49%
• 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)

29% more first-time investments, than exits

New positions opened: 128 | Existing positions closed: 99

11% more repeat investments, than reductions

Existing positions increased: 520 | Existing positions reduced: 470

6% more capital invested

Capital invested by funds: $23B [Q2] → $24.3B (+$1.29B) [Q3]

1.7% more ownership

Funds ownership: 83.81% [Q2] → 85.51% (+1.7%) [Q3]

7% more call options, than puts

Call options by funds: $519M | Put options by funds: $485M

1% more funds holding

Funds holding: 1,361 [Q2] → 1,369 (+8) [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: $140 8% downside
• Avg. target: $167 9% upside
• High target: $195 28% upside

13 analyst ratings

• positive: 0 0%
• neutral: 9 69%
• negative: 4 31%

Barclays Andrew Lazar 42% 1-year accuracy 8 / 19 met price target	11% upside $170	Equal-Weight Maintained	17 Jan 2025
Wells Fargo Chris Carey 40% 1-year accuracy 17 / 43 met price target	8% downside $140	Underweight Maintained	17 Jan 2025
UBS Peter Grom 41% 1-year accuracy 9 / 22 met price target	7% upside $163	Neutral Maintained	16 Jan 2025
Piper Sandler Michael Lavery 40% 1-year accuracy 23 / 58 met price target	0% upside $153	Neutral Maintained	16 Jan 2025
JP Morgan Ken Goldman 27% 1-year accuracy 3 / 11 met price target	1% downside $151	Neutral Maintained	16 Jan 2025