#2 - Hershey (NYSE:HSY)
The Hershey Company (NYSE: HSY) presents investors with a stock that sold off by around 15% in 2023. This was despite the company beating revenue and earnings on a year-over-year basis every quarter. One reason for that is concerns over declining sales due to the popularity of weight loss drugs.
So far, that narrative is not showing up in Hershey's sales and earnings. However, short interest is up about 15% in the last month, which suggests that options traders are looking for HSY stock to decline in the short term.
While Hershey's is only projecting about 4% earnings growth in 2024, the Hershey Company analyst ratings on MarketBeat give HSY stock a Hold rating but have a price target of $239.81, which is about a 27% upside from its price on January 8, 2024.
About Hershey
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
Read More - Current Price
- $199.80
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 14 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $202.79 (1.5% Upside)
