New York, Feb 6, 2026, 10:50 (EST) — Regular session
Hershey shares climbed roughly 3% on Friday, extending the chocolate maker’s two-day winning streak. The stock hit a session peak of $234.01 before settling around $231.10 in morning trading, up 3%.
The update came after a forecast that eased some of Wall Street’s worries over cocoa inflation, which has shaken the raw material market behind most of Hershey’s revenue for months. “HSY has yet to fully recover cocoa costs, the commodity remains fickle,” said RBC Capital Markets analyst Nik Modi, highlighting the ongoing risk of volatile margins despite price hikes. Reuters
Hershey projects 2026 net sales will rise between 4% and 5%, with adjusted earnings per share forecasted at $8.20 to $8.52. The “adjusted” figure excludes items like mark-to-market swings on commodity hedges and other comparability factors. CEO Kirk Tanner said, “As we enter 2026, we have strong conviction in the momentum of our business.” PR Newswire
Shares surged roughly 9% Thursday following the company’s fourth-quarter results, which topped estimates despite a profit decline from the previous year. Revenue climbed 7% to $3.09 billion, while earnings per share reached $1.71, beating forecasts, Barron’s reported.
In a separate move, the board announced a quarterly dividend of $1.452 per share on common stock, payable March 16 to shareholders recorded by Feb. 17. This marks the company’s 384th straight regular dividend on the common stock.
Brokerages wasted no time adjusting forecasts. Morgan Stanley bumped its price target up to $238 from $214, maintaining an “Overweight” rating, MT Newswires reported. MarketScreener
UBS raised its target to $236 from $210 but maintained a “Neutral” rating, saying much of the longer-term upside seems priced in, with valuations appearing expensive compared to peers. TipRanks
JPMorgan bumped its price target to $230 from $204 but kept a “Neutral” rating, pointing to a strong fourth-quarter performance and 2026 guidance that surpassed analyst expectations. TipRanks
The near-term outlook remains rocky. Hershey anticipates first-quarter margins will continue to be squeezed, with a stronger rebound expected only in the second quarter, The Wall Street Journal reported. CFO Steve Voskuil pointed to potential demand challenges stemming from health trends, GLP-1 weight-loss drugs, policy shifts, and the overall economic climate.
Investors are now focused on Hershey’s Investor Day in New York on March 31, where management is expected to lay out more specifics on their growth and margin strategy. “We’d love to see you all on March 31 in New York,” Tanner said during the company’s earnings call. MarketScreener
