Candy makers turn sweet on Canada over costly U.S. sugar tariffs [Financial Post (Toronto, Ontario, Canada)]
The Hershey Company (HSY)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Last fall, Hershey Co. repurchased a factory outside Ottawa that it closed more than a decade earlier. Blommer Chocolate Co., a U.S. rival, is expanding in Ontario while it shutters an 85-year-old Chicago plant. Oreo-maker Mondelez International Inc. says it has invested US$250 million in Ontario manufacturing facilities just in the last few years. Although Canada ????is far too cold to grow enough sugar for its candy industry, it has managed to attract hundreds of millions of dollars of investment in recent years to expand capacity. Some of that can be attributed to a rising population, but many in the industry say it's the long-standing protectionist measures in place south of the border that are sweetening Canada's appeal. Article content “High U.S. sugar prices over the long term is the driver of chocolate and candy production in Canada,” said Sébastien Pouliot, an agricultural eco
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- The Hershey Company (NYSE: HSY) had its "neutral" rating re-affirmed by analysts at Piper Sandler. They now have a $179.00 price target on the stock.MarketBeat
- The Hershey Company (NYSE: HSY) had its price target lowered by analysts at Wells Fargo & Company from $205.00 to $195.00. They now have an "equal weight" rating on the stock.MarketBeat
- Hershey (HSY) Stock Falls Amid Market Uptick: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- Hershey Updates Science-Based Targets As It Advances Efforts To Reduce Greenhouse Gas Emissions [Yahoo! Finance Canada]Yahoo! Finance Canada
- The Hershey Company (NYSE: HSY) had its price target lowered by analysts at Barclays PLC from $210.00 to $204.00. They now have an "equal weight" rating on the stock.MarketBeat
HSY
Earnings
- 5/3/24 - Beat
HSY
Sec Filings
- 6/21/24 - Form 4/A
- 6/17/24 - Form 4/A
- 6/17/24 - Form 4
- HSY's page on the SEC website