Analysts Downgrade Hershey Stock Because of a 'Concerning' Chocolate Market [Yahoo! Finance]
The Hershey Company (HSY)
Last the hershey company earnings: 4/23 07:00 am
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Source: Yahoo! Finance
The firm said chocolate is trailing other snacks in volume growth and is being bought less frequently despite being the largest category in dollar sales. Inflation of cocoa prices is causing chocolate producers to face much higher costs. Shares of Hershey Co. ( HSY ) was dropped to underperform by Jefferies analysts, calling chocolate “amongst the most concerning” segments of the US snack sector in a note Thursday. The analysts dropped their price target to $163 from $184, nearly 15% below the company's Wednesday closing price. The stock edged lower today, closing around $190. “Elevated prices and a stretched consumer are finally impacting the US snack category,” the analysts said, with chocolate in particular trailing other snacks. Potato chips, pretzels, and cookies have seen growing volume, but chocolate hasn't kept up as American consumers look for ways to stretch their budgets Rising Cocoa Prices Are a Drag One problem for chocolate is the climbing price of cocoa , w
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HSY
News
- Hershey Hit With Sell Call as High Prices Dent Chocolate Sales [Yahoo! Finance]Yahoo! Finance
- The Hershey Company (NYSE: HSY) was downgraded by analysts at Jefferies Financial Group Inc. from a "hold" rating to an "underperform" rating. They now have a $163.00 price target on the stock, down previously from $184.00.MarketBeat
- The Hershey Company (NYSE: HSY) had its price target lowered by analysts at Barclays PLC from $204.00 to $202.00. They now have an "equal weight" rating on the stock.MarketBeat
- An Intrinsic Calculation For The Hershey Company (NYSE:HSY) Suggests It's 40% Undervalued [Yahoo! Finance]Yahoo! Finance
- Hershey: Buckle Up For The Rest Of 2024 [Seeking Alpha]Seeking Alpha
HSY
Earnings
- 8/1/24 - Miss
HSY
Sec Filings
- 9/20/24 - Form 3
- 9/20/24 - Form 4
- 9/19/24 - Form 144
- HSY's page on the SEC website