Why Hershey Stock Went Up Today
Shares of candy and snack company (NYSE: HSY) went up on Thursday after the company reported financial results for the fourth quarter of 2024. As of 2:30 p.m. ET, Hershey stock was up about 5%.
In Q4, Hershey outperformed expectations on both the top and the bottom line. It generated nearly $2.9 billion in net sales, which was up almost 9% year over year. And it had net income of nearly $800 million, which more than doubled from the same quarter of 2023.
Hershey stock might have been up by a greater amount today if that jump in net income didn't come with an asterisk. Cocoa is one of the company's main input prices, and prices have skyrocketed in recent years. Hershey protects itself with contracts. These contracts delivered hundreds of millions of dollars in investment gains, and this is the bulk of its stunning Q4 profit.
Source Fool.com
Hershey Co. Stock
We see a rather positive sentiment for Hershey Co. with 14 Buy predictions and 2 Sell predictions.
As a result the target price of 181 € shows a slightly positive potential of 13.66% compared to the current price of 159.25 € for Hershey Co..
