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Hershey Stock Has Fallen Over The Past Month: What's Going On?

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Hershey Stock Has Fallen Over The Past Month: What's Going On?

Hershey Company (NYSE:HSY) stock is down more than 6% over the past month. Here’s what you need to know.

What To Know: The stock pulled back at the start of the month after the company posted its first-quarter results.

Hershey reported sales of $2.81 billion, topping the consensus estimate of $2.79 billion but marking a 13.7% year-over-year decline. Adjusted earnings per share came in at $2.09, above the $1.95 estimate, though down 31% from a year ago.

The company also provided guidance, reaffirming its fiscal-year adjusted earnings outlook of $6 to $6.18 per share, compared to the $6.13 consensus estimate. It expects revenue to exceed $11.43 billion, versus the $11.41 billion consensus.

Hershey said in the report it expects about $15 million to $20 million in tariff-related expenses during the second-quarter.

Multiple analysts reacted to the report, adjusting their price targets. Analysts at UBS and RBC lowered theirs, while those at Barclays and DA Davidson raised theirs.

See Also: Unity Software Stock Surges 12% Wednesday: What’s Going On?

HSY Price Action: At the time of writing, Hershey stock is down 1.37% at $156.06, according to data from Benzinga Pro.

Image: via Shutterstock

 

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