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Five-year agreement builds on significant company investments in improving the well-being of cocoa farming communities HERSHEY, Pa. , Oct. 14, 2024 /PRNewswire/ -- Hershey announced a five-year agreement with nine cocoa-producing cooperatives in Côte d'Ivoire.
HERSHEY, Pa. , Oct. 10, 2024 /PRNewswire/ -- The Hershey Company (NYSE: HSY) announced today that it will release its third-quarter sales and earnings results on Thursday, November 7, 2024, and hold a conference call with analysts at 8:30 a.m.
Despite Hershey's strategic focus, a challenging macroeconomic landscape and high input costs raise concerns.
In the latest trading session, Hershey (HSY) closed at $191.78, marking a -0.82% move from the previous day.
Rob Dickerson, Jefferies equity analyst, joins CNBC's 'The Exchange' to discuss why he's downgrading Hershey, how a gummy candies have eaten away at chocolate buyers, and more.
Though HSY is dealing with rising input costs, shrinking margins and increased price sensitivity in its chocolate segment, it still holds long-term potential.
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.
Jefferies has downgraded Hersheys from “hold” to “underperform” on expectations that the chocolate maker is likely to face significant challenges over the next three years on account of a decline in sales and margin compression.
On September 27, 2024, investors will get the latest reading on inflation from the Personal Consumption Expenditures (PCE) index. In August, the reading came in at 2.5%.
Hershey shares are down more than 25% from their 2023 highs. The confectionery company is facing rising cocoa prices and the potential threat from a new class of weight loss drugs.