Hershey (NYSE:HSY) Announces Earnings Results

Hershey (NYSE:HSY) released its quarterly earnings data on Thursday. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.31, FiscalAI reports. Hershey had a return on equity of 27.90% and a net margin of 7.55%.The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the business posted $2.69 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Hershey updated its FY 2026 guidance to 8.200-8.520 EPS.

Here are the key takeaways from Hershey’s conference call:

• Management guided to a recovery year with 4%–5% net sales growth and significant earnings improvement (CFO cited roughly 30%–35% EPS growth), signaling confidence in top-line momentum and margin recovery.
• Despite recent cocoa price declines, Hershey is largely hedged above current spot levels and the hedging position is “not in great shape” for 2026, so much of the potential cocoa-driven margin upside is likely to roll into 2027 rather than materialize this year.
• The salty-snacks business is a clear growth engine — Q4 salty grew ~18% with double-digit volume gains, driving share and retail space expansion.
• Hershey plans double-digit increases in advertising and multi-year R&D/innovation investments to fuel long-term growth, which should support demand but will temper near-term margin improvement.
• Management is monitoring macro risks (tariff inventory effects, SNAP waivers — 2 of 12 states implemented so far — and GLP-1 adoption); tariffs aided Q4 margins but some tariffed inventory will pressure Q1, and the company calls SNAP a manageable headwind included in the outlook.

Hershey Price Performance

Shares of NYSE HSY opened at $231.11 on Friday. The company has a 50 day simple moving average of $189.69 and a two-hundred day simple moving average of $185.90. Hershey has a fifty-two week low of $150.04 and a fifty-two week high of $234.43. The company has a market capitalization of $46.87 billion, a price-to-earnings ratio of 53.25 and a beta of 0.18. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.83 and a current ratio of 1.19.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Tuesday, February 17th will be issued a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a yield of 2.5%. This is a boost from Hershey’s previous quarterly dividend of $1.37. The ex-dividend date is Tuesday, February 17th. Hershey’s dividend payout ratio is currently 81.91%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Hershey from $182.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $185.00 target price on shares of Hershey in a research report on Tuesday. Zacks Research raised shares of Hershey from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Argus raised shares of Hershey to a “hold” rating in a research note on Wednesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $188.00 price objective on shares of Hershey in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $218.21.

Insider Transactions at Hershey

In related news, insider Stacy Taffet acquired 200 shares of the stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $186.19 per share, for a total transaction of $37,238.00. Following the completion of the purchase, the insider owned 9,371 shares of the company’s stock, valued at $1,744,786.49. This represents a 2.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kirk Tanner bought 2,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $185.46 per share, for a total transaction of $370,920.00. Following the completion of the acquisition, the chief executive officer directly owned 47,860 shares of the company’s stock, valued at approximately $8,876,115.60. This represents a 4.36% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 6,000 shares of company stock valued at $1,119,450 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hershey

Several large investors have recently modified their holdings of HSY. JPL Wealth Management LLC bought a new position in Hershey in the 3rd quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new position in Hershey in the third quarter worth about $35,000. MUFG Securities EMEA plc bought a new position in shares of Hershey in the second quarter worth approximately $72,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hershey by 20.2% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company’s stock worth $116,000 after buying an additional 117 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Hershey by 13.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,000 shares of the company’s stock valued at $187,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Key Headlines Impacting Hershey

Here are the key news stories impacting Hershey this week:

• Positive Sentiment: Q4 results beat estimates and management raised FY?2026 guidance (EPS 8.20–8.52, revenue ~ $12.2–12.3B), giving investors confidence in demand resilience and pricing power. Reuters: Hershey sees strong 2026
• Positive Sentiment: Hershey raised its quarterly dividend by 6% (to $1.452/share), signaling management confidence and attracting income investors ahead of the ex?dividend date. PR Newswire: Hershey Declares Quarterly Dividends
• Positive Sentiment: Analysts raised price targets after the report — Evercore ISI lifted its target to $250 (in-line rating), and others followed with higher targets, supporting further upside narrative. The Fly: Evercore raises target
• Neutral Sentiment: Market reaction in cocoa futures — cocoa prices rose after Hershey’s upbeat outlook, reflecting eased demand concerns; this can be a mixed signal for margins vs. broader industry health. Barchart: Cocoa prices settle higher
• Neutral Sentiment: Several Wall Street firms reiterated Hold/Equal Weight but nudged up targets (Wells Fargo to $220, BofA to $240, TD Cowen to $210), indicating cautious optimism but not broad conviction to upgrade to Buy. Benzinga: Wells Fargo raises target
• Negative Sentiment: Margins remain under pressure from higher cocoa costs and tariffs; outlets highlighted that profit was dragged by these items even as top?line and EPS beat. Continued commodity volatility is a downside risk to the earnings recovery. WSJ: Profit dragged by tariffs, cocoa costs
• Negative Sentiment: Analysts and commentary cautioned that cocoa price volatility and cost/tariff risks could limit margin recovery, supporting Hold ratings for risk?averse investors. TipRanks: Hold ratings due to cocoa volatility

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.