Hershey (NYSE:HSY) Stock, Quote.Headers.trade-ideas

Hershey

Hershey is a leading confectionery manufacturer in the us (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the us, including Brazil, 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, Pirate Brands, and Dot's Pretzels over the past few years.

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Bank of America, Accenture And 2 Other Stocks Insiders Are Selling

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The Hershey Company (NYSE: HSY) is reaping the benefits from robust consumer demand globally. The company continues to invest in its brands and capabilities to drive growth. Effective pricing actions have been working well for this global leader in chocolate and confectionery.

Hershey on Track With Pricing Actions and Innovations

hersheys-6492926_1920

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Price Target

Reiteration

Movers

Despite a positive first-quarter earnings report, Hershey&#39;s analyst says that there are some potential risks.

Hershey Analyst Raises Forecast, &#39;Stock Tempting As A Chocolate Bar, But Risks Remain,&#39; After Q1 Results

The Hershey Co

HARMONIC DRIVE SYS INC by Harmonic Drive Systems, Inc.

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The Nasdaq 100 closed lower by more than 700 points during Wednesday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Bank of America</h3>
<ul>
<li>The Trade: Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) 10% owner WARREN E BUFFETT <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 18,899,518 shares</a> at an average price of $42.46. The insider received around $802.5 million from selling those shares.</li>
<li>What's Happening: The Board authorized a $25 billion stock repurchase program starting August 1, 2024, replacing the existing program set to expire on that date.</li>
<li>What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">latest BAC news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="676" height="738" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082920/Screenshot-2024-07-25-at-5.59.11-PM.png" alt="" class="wp-image-456673" style="width:498px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082920/Screenshot-2024-07-25-at-5.59.11-PM.png 676w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082920/Screenshot-2024-07-25-at-5.59.11-PM-275x300.png 275w" sizes="(max-width: 676px) 100vw, 676px" /></a></figure>
<h3 class="wp-block-heading">Accenture</h3>
<ul>
<li>The Trade: Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) Chief Leadership &amp; HR Officer Ellyn Shook <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 5,000 shares</a> at an average price of $329.82. The insider received around $1.65 million from selling those shares.</li>
<li>What's Happening: On July 22, Accenture agreed to acquire Camelot Management Consultants.</li>
<li>What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">trend in ACN stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="691" height="749" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082607/Screenshot-2024-07-25-at-5.55.59-PM.png" alt="" class="wp-image-456660" style="width:457px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082607/Screenshot-2024-07-25-at-5.55.59-PM.png 691w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082607/Screenshot-2024-07-25-at-5.55.59-PM-277x300.png 277w" sizes="(max-width: 691px) 100vw, 691px" /></a></figure>
<h3 class="wp-block-heading">Hershey</h3>
<ul>
<li>The Trade: The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) SVP, Chief Financial Officer Steven E Voskuil <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,500 shares</a> at an average price of $190.83. The insider received around $286,245 from selling those shares.</li>
<li>What's Happening: On July 23, Deutsche Bank analyst Steve Powers maintained Hershey with a Hold and lowered the price target from $197 to $192.</li>
<li>What Hershey Does: Hershey is a leading confectionery manufacturer in the us (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor).</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">breakout in HSY shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="655" height="753" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082703/Screenshot-2024-07-25-at-5.56.55-PM.png" alt="" class="wp-image-456665" style="width:444px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082703/Screenshot-2024-07-25-at-5.56.55-PM.png 655w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082703/Screenshot-2024-07-25-at-5.56.55-PM-261x300.png 261w" sizes="(max-width: 655px) 100vw, 655px" /></a></figure>
<h3 class="wp-block-heading">Trade Desk</h3>
<ul>
<li>The Trade: The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) Director Gokul Rajaram <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,355 shares</a> at an average price of $98.37. The insider received around $133,291 from selling those shares.</li>
<li>What's Happening: On July 25, Needham analyst Laura Martin reiterated Trade Desk with a Buy and maintained a $100 price target.</li>
<li>What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs.</li>
<li>Benzinga Pro's earnings calendar was used to track <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1">TTD upcoming earnings report</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="624" height="749" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082749/Screenshot-2024-07-25-at-5.57.43-PM.png" alt="" class="wp-image-456670" style="width:442px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082749/Screenshot-2024-07-25-at-5.57.43-PM.png 624w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25082749/Screenshot-2024-07-25-at-5.57.43-PM-250x300.png 250w" sizes="(max-width: 624px) 100vw, 624px" /></a></figure>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39950906/nasdaq-s-p-500-record-worst-session-since-2022-amid-tesla-alphabet-selloff-investor-optimism-decrea">Nasdaq, S&amp;P 500 Record Worst Session Since 2022 Amid Tesla, Alphabet Selloff: Investor Optimism Decreases Further</a></li>
</ul>

Deutsche Bank analyst Steve Powers maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Hold and lowers the price target from $197 to $192.

Deutsche Bank Maintains Hold on Hershey, Lowers Price Target to $192

Hershey's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) short percent of float has fallen 4.47% since its last report. The company recently reported that it has 3.89 million shares sold short, which is 2.99% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.78 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Hershey Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721403016_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Hershey has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Hershey's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Hershey's peer group average for short interest as a percentage of float is 4.46%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

(HSY) - Analyzing Hershey's Short Interest

Citigroup analyst Thomas Palmer maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Neutral and lowers the price target from $204 to $188.

Citigroup Maintains Neutral on Hershey, Lowers Price Target to $188

Bernstein analyst Alexia Howard maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Outperform and lowers the price target from $237 to $230.

Bernstein Maintains Outperform on Hershey, Lowers Price Target to $230

B of A Securities analyst Bryan Spillane maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Neutral and lowers the price target from $210 to $200.

B of A Securities Maintains Neutral on Hershey, Lowers Price Target to $200

Piper Sandler analyst Michael Lavery maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Neutral and maintains $179 price target.

Piper Sandler Maintains Neutral on Hershey, Maintains $179 Price Target

Wells Fargo analyst Chris Carey maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Equal-Weight and lowers the price target from $205 to $195.

Wells Fargo Maintains Equal-Weight on Hershey, Lowers Price Target to $195

Barclays analyst Andrew Lazar maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Equal-Weight and lowers the price target from $210 to $204.

Barclays Maintains Equal-Weight on Hershey, Lowers Price Target to $204

The Hershey Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsy#NYSE">HSY</a>) is reaping the benefits from robust consumer demand globally. The company continues to invest in its brands and capabilities to drive growth. Effective pricing actions have been working well for this global leader in chocolate and confectionery. Its investments in innovation, marketing and in-store execution have been beneficial, leading to better consumer engagement and enhanced market share performance. 
Due to these upsides, Hershey kickstarted 2024 on a strong note, with first-quarter top and bottom lines increasing year over year and beating their respective Zacks Consensus Estimate. Impressively, management expects year-over-year net sales growth in the range of 2-3% for 2024. 
Hershey, however, is not immune to rising costs, which are putting pressure on its margin performance. Let&#39;s discuss this in detail.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/fa/68841.jpg?v=1372336027" /> 
Image Source: Zacks Investment Research
<h3>What&#39;s Working in Hershey&#39;s Favor?</h3>
Hershey is undertaking strategic pricing initiatives to improve its performance. The trend continued in the first quarter of 2024, with price realization being up 5.2% year over year. In the North America Confectionery segment, organic pricing increased 5.9%. Organic pricing rose 1.7% in the North America Salty Snacks. In the International unit, the company&#39;s organic pricing jumped 3.5%. The continuation of such trends bodes well for Hershey. 
The company is undertaking buyouts to augment portfolio strength and boost revenues. In December 2021, Hershey acquired Dot&#39;s Pretzels LLC, the owner of Dot&#39;s Homestyle Pretzels, a leading brand in the pretzel category. The addition of Dot&#39;s Pretzels is a perfect match for Hershey&#39;s growing salty snacking portfolio. Dot&#39;s Pretzels remained strong in the first quarter of 2024. HSY also purchased Pretzels Inc. from an affiliate of Peak Rock Capital. The acquisition further expanded its snacking and production capabilities. 
Hershey markets some of the world&#39;s leading brands, which enjoy widespread consumer acceptance. The company is also a global leader in sugar confectionery products, an attractive category as confectionery products are readily available, affordable and highly indulgent, thus making the industry almost recession-resistant. 
Hershey&#39;s core brands &mdash; Hershey&#39;s, Reese&#39;s, Hershey&#39;s Kisses, Jolly Rancher, Brookside, Sofit and Ice Breakers &mdash; have been growing strongly on the back of advertising investments, in-store merchandising, and programming and innovation. The company regularly brings innovation to its core brands to meet consumer demands and needs that are not addressed by its current portfolio. It has innovation, distribution and merchandising activations in the pipeline for 2024, courtesy of a significant rise in capacity.
<h3>Is All Rosy for Hershey?</h3>
Hershey is operating amid a volatile business environment. The company is not immune to rising costs, which are putting pressure on its margin performance. In the first quarter, the adjusted gross margin was 44.9%, down 170 basis points (bps) year over year due to increased commodity costs. For 2024, management expects the gross margin to decline approximately 200 bps due to high cocoa prices and elevated sugar costs. 
Also, Hershey has been grappling with higher selling, marketing and administrative (SG&amp;A) expenses for a while. In the first quarter, the company&#39;s SG&amp;A expenses rose 6.3% on increased levels of media, capability and technology investments. Advertising and related consumer marketing expenses moved up 12%, with elevated investments across all segments.
<h3>Wrapping Up</h3>
Despite these challenges, Hershey is on track with the Advancing Agility &amp; Automation initiative to generate net run-rate savings and fuel investments.&nbsp; Focus on cost-saving efforts, along with the upsides mentioned above, are likely to fuel growth. 
Shares of the Zacks Rank #3 (Hold) company have risen 2.1% in the past three months compared with the industry&#39;s 1% growth.
<h3>Solid Food Bets</h3>
Vital Farms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%. 
The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and earnings indicates growth of 22.5% and 59.3%, respectively, from the year-ago reported numbers. 
Utz Brands Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utz#NYSE">UTZ</a>), which manufactures a diverse range of salty snacks, currently carries a Zacks Rank #2 (Buy). UTZ has a trailing four-quarter earnings surprise of 2%, on average. 
The consensus estimate for Utz Brands&#39; current financial-year earnings indicates growth of 26.3% from the year-ago reported numbers. 
Conagra Brands (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), a consumer-packaged goods food company, currently carries a Zacks Rank of 2. The Zacks Consensus Estimate for CAG&#39;s current fiscal-year earnings indicates a decline of 5.1% from the year-ago reported figure. 
Conagra Brands has a trailing four-quarter earnings surprise of 6.8%, on average.
<a href="https://www.zacks.com/stock/news/2288514/hershey-hsy-on-track-with-pricing-actions-and-innovations?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288514">To read this article on Zacks.com click here.</a>

Macro Economic Events

Economics

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Hershey's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) short percent of float has risen 11.39% since its last report. The company recently reported that it has 4.08 million shares sold short, which is 3.13% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Hershey Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717176623_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Hershey has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Hershey's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Hershey's peer group average for short interest as a percentage of float is 4.25%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Hershey's Recent Short Interest

Argus Research analyst Taylor Conrad maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Buy and lowers the price target from $240 to $225.

Argus Research Maintains Buy on Hershey, Lowers Price Target to $225

Hershey's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) short percent of float has fallen 5.85% since its last report. The company recently reported that it has 3.98 million shares sold short, which is 3.06% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.5 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Hershey Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715623217_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Hershey has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Hershey's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Hershey's peer group average for short interest as a percentage of float is 4.17%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Hershey's Recent Short Interest

Hershey Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) on Friday reported <a href="https://www.benzinga.com/news/earnings/24/05/38622115/s-p-500-rises-over-1-hershey-earnings-top-views">better-than-expected earnings for its first quarter</a>.
The stock is "as tempting as a chocolate bar," but some risks remain, according to Wells Fargo.
The Hershey Analyst: Chris Carey maintained an Equal Weight rating on Hershey, while raising the price target from $200 to $205.
The Hershey Thesis: The multiples for the new target price are still at the low end of the stock's 12-year average, Carey said in the note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"Growth has slowed of late, HSY&#8217;s medium- and long-term targets are at risk amid recent volume trends and inflation," the analyst wrote. "Unless inflation eases, HSY may be left with a decision to price more and risk volumes, or lower SG&amp;A to protect profit," he added.
The stock is likely to trade at the low end of its historical range, until there is more balance in its model," Carey further wrote.
He raised his earnings estimates for fiscal 2024 from $9.58 to $9.59 following the release of quarterly results.
HSY Price Action: Shares of Hershey had declined by 1.60% to $194.75 at the time of publication on Monday.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38646460/robinhood-receives-wells-notice-from-sec-over-crypto-business">Robinhood Receives Wells Notice From SEC Over Crypto Business</a>
Photo: Pixabay

Hershey Analyst Raises Forecast, 'Stock Tempting As A Chocolate Bar, But Risks Remain,' After Q1 Results

Wells Fargo analyst Chris Carey maintains Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Equal-Weight and raises the price target from $200 to $205.

Wells Fargo Maintains Equal-Weight on Hershey, Raises Price Target to $205

U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining more than 1% on Friday.
The Dow traded up 1.27% to 38,712.21 while the NASDAQ rose 2.14% to 16,179.29. The S&amp;P 500 also rose, gaining, 1.36% to 5,133.12.
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>
Leading and Lagging Sectors Information technology shares rose by 3.3% on Friday.
In trading on Friday, energy shares fell by 0.5%.
Top Headline
Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) reported better-than-expected first-quarter FY24 earnings.
The company reported first-quarter FY24 sales growth of 8.9% year-on-year to $3.252 billion, beating the analyst consensus estimate of $3.112 billion. Adjusted EPS of $3.07 beat the analyst consensus of $2.76.
Hershey reaffirmed FY24 net sales growth of about 2% – 3% versus an estimate of $11.47 billion and adjusted EPS of $9.59 against the consensus of $9.57.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares shot up 102% to $5.92 after the company announced its SG Echo subsidiary is preparing to deliver its first sustainable modular unit to a prominent quick-service restaurant customer in the Pacific Northwest.</li>
<li>Shares of Upland Software, Inc. &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPLD#NASDAQ">UPLD</a>) got a boost, surging 32% to $2.6650 after the company reported better-than-expected first-quarter financial results.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) shares were also up, gaining 24% to $45.40 after the company reported better-than-expected first-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares dropped 53% to $1.5750 after the company announced that the preliminary top-line results from its interim analysis of its Phase 2 trial with ABP-450 did not meet its primary endpoint.</li>
<li>Shares of Sprout Social, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) were down 37% to $30.42 after the company reported worse-than-expected first-quarter revenue results on Thursday.</li>
<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) was down, falling 21% to $19.45 following first-quarter results</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/05/38611794/top-2-consumer-stocks-that-may-plunge-this-quarter">Top 2 Consumer Stocks That May Plunge This Quarter</a>
Commodities In commodity news, oil traded down 0.8% to $78.30 while gold traded up 0.1% at $2,310.00.
Silver traded down 0.4% to $26.71 on Friday, while copper rose 1.6% to $4.5570.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.46%, Germany's DAX rose 0.59% and France's CAC 40 gained 0.54%. Spain's IBEX 35 Index fell 0.16%, while London's FTSE 100 rose 0.51%.
The unemployment rate in the eurozone came in at a record low level of 6.5% in March. The S&amp;P Global UK services PMI rose to 55 in April from 53.1 a month ago. France's government budget deficit shrank to EUR 52.78 billion in January-March 2024 compared to EUR 54.72 billion in the year-ago period, while France's industrial production declined 0.3% month-over-month in March.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Hong Kong's Hang Seng Index jumping 1.48% and S&amp;P BSE Sensex falling 0.98%.
Retail sales in Hong Kong fell 8.6% year-over-year in March versus a 0.5% gain in the prior month..&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Economics
<ul>
<li>U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March and missing the expected 238,000, the Bureau of Labor Statistics said Friday.</li>
<li>The unemployment rate went from 3.8% to 3.9%, more than the expected 3.8%. Average hourly earnings edged down from 4.1% to 3.9% compared to April 2023, falling more than the expected dip to 4%.</li>
<li>The S&amp;P Global Services PMI declined to 51.3 in April from 51.7 in March.</li>
<li>The ISM Services PMI fell to 49.4 in April from 51.4 a month ago.</li>
<li>The total number of active U.S. oil rigs fell by 7 To 499 rigs this week, Baker Hughes Inc reported</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/05/38606493/apple-hershey-and-3-stocks-to-watch-heading-into-friday">Apple, Hershey And 3 Stocks To Watch Heading Into Friday</a>
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S&P 500 Rises Over 1%; Hershey Earnings Top Views

A weaker-than-expected jobs report sparked a widespread market rally in the last session of the week, as traders increased expectations on potential <a href="https://www.benzinga.com/topic/interest-rates">interest rate cuts later this year</a>.
In April, nonfarm payrolls expanded by 175,000 jobs, marking a significant slowdown from March&#8217;s robust pace of 315,000 and notably falling short <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38612469/job-market-cools-in-april-payrolls-miss-forecasts-wages-rise-less-than-expected">of the anticipated 238,000</a>.
Unexpectedly, the unemployment rate edged higher, while average hourly earnings softened more than forecasted, both indicating a slowdown in momentum within the labor market.
On a separate note, the latest surveys on service sector activity revealed an unexpected contraction in April, as reported by <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38616058/services-sector-activity-contracts-business-is-slowing-as-stocks-bonds-trim-gains">the Institute for Supply Management.</a>
Chicago Fed President Austan Goolsbee welcomed results from the jobs report, emphasizing that it boosts confidence that the economy is not overheating and inflation is not reaccelerating. 
The S&amp;P 500 surged by 1.2%, pushing the overall weekly performance into positive territory. The Nasdaq 100 experienced a remarkable 2% surge, marking its most robust performance in over two months. Among tech giants, Apple Inc. made headlines, rising nearly 7% following the announcement of a record-breaking $110-billion buyback program. The Cupertino, California-based company also beat both earnings and revenue estimates last quarter. 
Blue chips and small-cap stocks also rose, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up by 0.9%.
Yields experienced a broad decline, with the two-year Treasury yield now settling at 4.8% after reaching a peak of 5.05% earlier in the week. 
The overall optimistic risk sentiment spurred gains in more speculative areas of the market, leading to a rise in cryptocurrencies across the board. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged by 4.8%, surpassing the $61,000 mark.
Read also: <a href="https://www.benzinga.com/24/05/38616039/why-bitcoin-spiked-above-62-000-following-the-april-jobs-report">Why Bitcoin Spiked Above $62,000 Following The April Jobs Report</a>
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,881.25</td>
<td>1.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,677.36</td>
<td>1.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,126.34</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,033.91</td>
<td>0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $511.54, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.2% to $386.42 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rocketed 1.9% to $435.11, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 2.8%, followed by the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), up 0.8%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 0.7%.
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) rose over 13% following upbeat quarterly results. </li>
<li>Other stocks reacting to earnings were Booking Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NYSE">BKNG</a>), up about 4%, MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) up 11%, EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) down 1.6%, Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) up 1.9%, Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) down 4%, Expedia Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NYSE">EXPE</a>) down over 13%, Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) down over 8%, Block Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NASDAQ">SQ</a>) mostly flat, Coterra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>) up over 3%, The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) up 1.3%, Cheniere Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>) down 1.6%, CBRE Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) down 1%, Corebridge Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>)</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38590992/sell-in-may-and-go-away-does-the-trading-strategy-hold-up-in-election-years">Sell In May And Go Away: Does The Trading Strategy Hold Up In Election Years?</a>
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Stocks Rally As Jobs Report Rekindles Rate Cut Hopes, Apple Rockets, Bitcoin Soars Above $61,000: What's Driving Markets Friday?

Firebrand Republican Congresswoman&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a" rel="noreferrer noopener">Marjorie Taylor Greene</a>&nbsp;(R-GA) made headlines Thursday&nbsp;with a disclosure of&nbsp;her latest financial transactions.
What Happened: Greene&#8217;s filing on Thursday marks her first periodic transaction report since June 2022, adhering to the &#8220;Stock Trading on Congressional Knowledge Act.&#8221; This act mandates U.S. lawmakers to publicly disclose financial transactions within 45 days of occurrence, typically within a value range.
All transactions occurred on either April 25 or 26.
The details of Greene&#8217;s transactions are as follows:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Value Range</td>
</tr>
<tr>
<td>Berkshire Hathaway, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Schwab US Large-Cap Growth Idx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWLGX#NASDAQ">SWLGX</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>US Treasury Bill</td>
<td>$250,001-$500,000</td>
</tr>
<tr>
<td>Vanguard FTSE Developed Markets Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard Mid-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)</td>
<td>$15,001-$50,000</td>
</tr>
<tr>
<td>Vanguard Small-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>)</td>
<td>$1,001-$15,000</td>
</tr>
</tbody>
</table>
</figure>
Sale transactions:
<ul>
<li>iShares Core MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMG#NYSE">EMG</a>): $1,001-$15,000 </li>
<li>iShares Core MSCI Total International Stock ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IXUS#NASDAQ">IXUS</a>): $1,001-$15,000 </li>
<li>iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P U.S. Growth ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IUSG#NASDAQ">IUSG</a>): $1,001-$15,000)</li>
</ul>
All the exchange-traded funds were part of mutual funds held in Greene&#8217;s managed IRA account.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
No DJT Trades: Greene, an ardent backer of Republican Presidential candidate Donald Trump, incidentally did not do any new transaction in Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the former president&#8217;s media company that <a href="https://www.benzinga.com/markets/equities/24/03/37963370/trumps-djt-stock-is-worth-52x-more-than-nvidia-by-1-data-point">came public in late March following its merger with SPAC Digital World Acquisition.</a>
The stock is down about 16% since its public debut.
When Digital World Acquisition announced its decision with Trump Media &amp; Technology Group in 2021, Green was the first Congress member to invest in the SPAC. She then reported that she along with her then-husband Perry Greene bought $15,001-$50,000 worth of the SPAC&#8217;s shares
Greene hasn&#8217;t disclosed any sale of the stock since then.
The stock market has been on a tear this year despite the headwinds. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an ETF that tracks the broader S&amp;P 500 Index, rose 0.34% to $506.74, in premarket trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>It has gained over 6.5% so far this year.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38609896/wall-street-looks-to-feed-off-apples-post-earnings-power-but-key-jobs-data-may-upset-the-cart-analy">Wall Street Looks To Feed Off Apple&#8217;s Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says &#8216;A Lot Of These Clouds Will Lift&#8217; If This Happens</a>

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Marjorie Taylor Greene Reveals New Stock Trades After 2-Year Gap: Berkshire Hathway, Goldman Sachs And Microsoft Make The List — But Trump's DJT Doesn't

Hershey Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) shares are trading higher after the reported better-than-expected first-quarter FY24 earnings.
The company reported first-quarter FY24 sales growth of 8.9% year-on-year to $3.252 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38608859/hershey-reports-first-quarter-2024-financial-results-reaffirms-2024-net-sales-and-earnings-outlook" rel="noreferrer noopener">beating the analyst consensus estimate of $3.112 billion.</a>
Hershey&#8217;s North America Confectionery segment net sales rose 10.4% Y/Y to $2.707 billion. Sales for Hershey&#8217;s International segment increased 1.8% to $270.3 million.
Gross margin expanded 520 basis points Y/Y to 51.5%, and gross profit rose 21.3% Y/Y to $1.67 billion.
Operating margin expanded 570 basis points to 32.5%, and the operating income for the quarter was $1.06 billion.
Adjusted EPS of $3.07&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the analyst consensus of $2.76.</a>
Hershey held $520.4 million in cash and equivalents as of March-end.
&#8220;Our investments in innovation, marketing and in-store execution are driving consumer engagement and improving market share performance across segments,&#8221; said President and CEO Michele Buck.
Hershey&nbsp;board declared quarterly dividends of&nbsp;$1.370&nbsp;on the common stock and&nbsp;$1.245&nbsp;on the Class B common stock.&nbsp; The dividends were declared&nbsp;on May 2, 2024, and are payable&nbsp;on June 14 to stockholders of&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38609931" rel="noreferrer noopener">record as of&nbsp;May 17.</a>
Outlook: Hershey reaffirmed FY24 net sales growth of about 2% &#8211; 3% versus an estimate of $11.47 billion and adjusted EPS of $9.59 against the consensus of $9.57.
Price Action: HSY shares traded higher by 1.59% at $198.99 premarket at the last check Friday.
Photo via Wikimedia Commons

Guidance

General

Why Is Chocolate Maker Hershey's Stock Ticking Higher Today?

In a report released today, Bryan Spillane from Bank of America Securities maintained a Hold rating on The Hershey Company (HSY – Research Report)....

Bank of America Securities Remains a Hold on The Hershey Company (HSY)

8 Expected Dividend Increases In July 2024

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If I Had To Retire Today, Here's How I'd Do It

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
As market volatility persists in 2024 with the presidential election on the horizon, investors look towards more stable investments. <a href="https://investorplace.com/industries/consumer-staples/">Consumer staples stocks</a> are a reliable choice for those seeking to navigate these turbulent times.&nbsp;



These stocks represent companies that produce and sell essential goods and services, such as food, beverages, household products and personal care items. This makes investing in the sector extremely attractive, as companies can generate consistent revenue and cash flows. Moreover, the companies tend to have a history of returning value to shareholders through dividends and share buybacks. For income-focused investors, this is a significant advantage, as it provides a reliable source of passive income.&nbsp;



Given the defensive nature of the industry, now could be a great time to consider adding these giants to your investment portfolio.&nbsp;



Now, let&rsquo;s discover the top three consumer staples stocks to add to your July buy list.



<h2>Mondelez International (MDLZ)</h2>



Mondelez International (NASDAQ:<a href="https://investorplace.com/stock-quotes/mdlz-stock-quote/">MDLZ</a>) is a global snacking powerhouse, boasting a diversified portfolio of iconic brands such as Oreo, Cadbury and Trident. The company&rsquo;s strong market position makes it a compelling choice for investors looking for reliable consumer staples stocks.



Mondelez has consistently delivered strong financial performance over the last few years. The company&rsquo;s strong brand recognition and growth strategy through acquisitions has paid significant dividends. It continues to acquire high-profile brands, including the acquisition of leading <a href="https://ir.mondelezinternational.com/news-releases/news-release-details/mondelez-international-completes-acquisition-clif-bar-company-us">U.S. energy bar maker</a>, Clif Bar &amp; Company. Additionally, its commitment to sustainability coupled with its robust supply chain network enables it to manage costs efficiently. This has allowed the company to scale organically and maintain a competitive edge in the marketplace. 



In <a href="https://ir.mondelezinternational.com/static-files/ff9aa75c-b159-4d3c-8aaa-9c9e03fff716">FY23</a>, Mondelez saw record revenue of $36.01 billion, an increase of 14% year over year. Moreover, its net earnings swelled 82% year over year to $4.95 billion. But the cherry on top was the company increasing its dividend by 10% and returning $3.7 billion to shareholders.



<h2>Hershey (HSY)</h2>



Hershey (NYSE:<a href="https://investorplace.com/stock-quotes/hsy-stock-quote/">HSY</a>) is a leading confectionery company with a rich history and strong portfolio of brands, including Hershey&rsquo;s, Reese&rsquo;s and Kit Kat. Known for its high-quality products, Hershey is an emerging consumer staples stock that truly does not get the love it deserves.



The Hershey brand has been around for more than a century, showcasing its ability to navigate through an array of economic cycles. It has continued to innovate and expand its products beyond traditional chocolate. This includes its foray into the healthy snack segment. Moreover, its growing presence in international markets, particularly in Asia, is a noble strategy. 



Even amidst record-high cacao prices, Hershey&rsquo;s healthy profit margins are a testament to management&rsquo;s strong execution. In the <a href="https://hershey.gcs-web.com/static-files/332e9099-d69b-43a1-af08-06204f8e0ec8">2023 fiscal year</a>, revenue increased 7% year over year to a record $11.16 billion. Additionally, net earnings rose 13% year-over-year to $1.86 billion while generating $1.55 billion in free cash flow. The company&rsquo;s dividend is also growing rapidly, placing it among the best consumer staples stocks to snap up in Q3 2024.&nbsp;



<h2>PepsiCo (PEP)</h2>



PepsiCo (NASDAQ:<a href="https://investorplace.com/stock-quotes/pep-stock-quote/">PEP</a>), a global food and beverage giant, is the final company on this list for the top consumer staples stocks to buy in 2024. The company consistently delivered strong financial results over the last decade. Additionally, its focus on innovation, strong brand recognition and expansion into new markets enhances its long-term appeal.&nbsp;



One of PepsiCo&rsquo;s key strengths is its ability to cater to a wide range of consumer preferences. It has a diversified portfolio of brands across various categories, including carbonated soft drinks, juices, snacks and breakfast items. Furthermore, it has also embraced healthier food options, acquiring notable brands like Health Warrior and Naked. This move has significantly enhanced the company&rsquo;s competitive edge. 



In <a href="https://investors.pepsico.com/docs/default-source/investors/q4-2023/q4-2023-earnings-release_cfi1hp8k0s48az3y.pdf?sfvrsn=be03243c_1">FY23</a>, the company saw record revenue, earnings and free cash flow. The Latin American market reported significant gains, with operating profit up 67% from the year prior. Its valuation is also still quite attractive and it recently <a href="https://investor.pepsico.com/docs/default-source/investors/q1-2024/q1-2024-earnings-release_7elb232f6bt72x5f.pdf">raised its dividend</a> by 7% to a record $1.355 per share. Despite weaker demand and volume in domestic markets, its 4% revenue and 8% EPS guidance for FY24 make the stock extremely compelling.



On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/07/3-compelling-consumer-staples-stocks-to-add-to-your-july-buy-list/">3 Compelling Consumer Staples Stocks to Add to Your July Buy List</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Compelling Consumer Staples Stocks to Add to Your July Buy List

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