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
Our community is currently low on Hershey Co. with 4 Buy predictions and 10 Sell predictions.
However, we have a potential of 3.72% for Hershey Co. as the target price of 146 € is above the current price of 140.76 €.
