Hershey Hit With Sell Call as High Prices Dent Chocolate Sales [Yahoo! Finance]
The Hershey Company (HSY)
Last the hershey company earnings: 4/23 07:00 am
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Source: Yahoo! Finance
(Bloomberg) -- Jefferies is turning more cautious on Hershey Co. shares as consumers curb their snacking and pull back on higher-priced chocolates in particular. Most Read from Bloomberg Analyst Rob Dickerson downgraded his rating on the maker of Reese's and Dot's Pretzels to underperform from hold Thursday, warning that chocolate is “notably underperforming” other snacking categories. While elevated prices and a pressured consumer are impacting the US snack industry broadly, volume trends for chocolate have been weaker in recent years. “The underperformance is a function of chocolate's widening price gaps to other snacking categories, consumers' increasing caution with food spend, and a generational shift to non-chocolate confection, all potentially redefining the value equation for US chocolate,” he wrote in a note. Dickerson cut his 12-month price target for Hershey shares to a Street-low $163 from $184, implying a 15% drop from Wednesday's close. The stock fell as much as
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HSY
News
- Analysts Downgrade Hershey Stock Because of a 'Concerning' Chocolate Market [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