1 Magnificent S&P 500 Dividend Stock Down 28% to Buy and Hold Forever
The Hershey Company (NYSE: HSY) makes many of the candy brands you'll find in every convenience store, but historically high cocoa prices are taking a toll on the business. Cocoa prices have nearly tripled since 2022, making it more costly to make candy, which is hurting Hershey's bottom line. Hershey expects full-year earnings to be flat this year, and the weak outlook for growth has caused the stock to fall 28% from previous highs.
Still, Hershey is a profitable business that continues to make dividend payments. The lower share price has sent the dividend yield well above Hershey's historical average yield of 2.15% and more than double the S 500 average of 1.32%. Here are three reasons to buy this magnificent dividend stock now and hold it forever.
While the increase in cocoa prices has had a negative impact on the business, management's guidance suggests Hershey can navigate this environment just fine.
Source Fool.com
Hershey Co. Stock
With 9 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 210 € there is a slightly positive potential of 18.51% for Hershey Co. compared to the current price of 177.2 €.
