The Hershey Company (NYSE:HSY) traded today at a new 12-month high of $185.91. Approximately 55,000 shares have changed hands today, as compared to an average 30-day volume of 947,000 shares.
The Hershey Company defies analysts with a current price ($185.10) 12.1% above its average consensus price target of $162.79.
Hershey is a leading confectionery manufacturer in the U.S. (nearly a $25 billion market), controlling around 46% of the domestic chocolate space (per IRI). Beyond its namesake label, the firm’s mix has expanded over the last 85 years and now consists of 90 brands, including Reese’s, Kit Kat, Kisses, and Ice Breakers. Hershey’s products are sold in about 85 countries, with just 10% of total sales coming from markets outside the U.S., including Brazil, China, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix and Pirate Brands (including the Pirate’s Booty, Smart Puffs, and Original Tings brands) over the past few years.
In the past 12 months, The Hershey Company share prices are bracketed by a low of $143.58 and a high of $185.91 and are now at $185.10, 29% above that low price.
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