Reading the tape
NYSE: HSY
The Hershey Company
Consumer Defensive · Food Confectioners
Market Cap
$37.72B
52w High
$239.48
52w Low
$150.04
P/E
33.76
Volume
1.28M
Outstanding Shares
202.84M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 9.3%Revenue (TTM): 11.5%FCF (TTM): 19.1%P/FCF: 3rd pct
What changed
The stock rose 9.3% over the last year. Revenue grew 11.5% over the trailing twelve months. Operating margin moved from 20.54% to 14.08%. Free cash flow grew 19.1% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 14.08%. A decisive move in revenue — currently up 11.5% — would be the clearest signal to resolve the ambiguity.
Company profile
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.
CEOKirk C. Tanner
SectorConsumer Defensive
IndustryFood Confectioners
Employees18,540
IPO dateMar 17, 1980
Valuation
Forward P/E—
EV/EBITDA28.65
Enterprise value$41.51B
Stock splits
Jun 16, 2004↑ Forward
Every 1 shares became 2
Sep 16, 1996↑ Forward
Every 1 shares became 2
Sep 16, 1986↑ Forward
Every 1 shares became 3
Sep 16, 1983↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth10.65%
Gross margin34.76%▼29.69%vs FY2024
Operating margin14.08%▼53.16%vs FY2024
ROE19.05%▼59.57%vs FY2024
Analyst consensus
RatingHold
Target price$221.50▲19.12%
8
Buy
24
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 29, 2026
Q3 FY26 · EPS est $1.44 · Revenue est $2.65B
View
Dividends
$5.64/shareQuarterlyDividend Aristocrat · 34yrEx-div May 15, 2026 · in 5dAt RiskHSY pays a dividend with a 3.04% declared yield, 34 consecutive years of growth, growing at 11.91% annually, covered 1.6× by free cash flow.
Declared Yield
3.04%
Annual Div / Share
$5.64
5yr CAGR
+11.91%
Doubles every ~6.2yr
Payout Ratio
100.69%
At Risk
Dividend Growth Rate
3yr CAGR
+10.85%
5yr CAGR
+11.91%
10yr CAGR
+9.24%
Dividend Safety
5/10At Risk
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$5.64+3.0%
2025$5.48+6.9%
2024$5.12+23.6%
2023$4.14+15.0%
2022$3.60+12.1%
2021$3.22+4.0%
2020$3.09+7.1%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$30/yr
$3/mo
In 5 yrs
$53/yr+75%
$4/mo
In 10 yrs
$93/yr+208%
$8/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$30/yr $3/mo | $53/yr+75% $4/mo | $93/yr+208% $8/mo |
Yield-on-cost grows from 3.04% → 9.35% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
HSY has raised its dividend for 34 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 1.6× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 11.91% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 100.69% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.
Congressional Activity
Congress Trades in HSY
STOCK Act disclosures from senators and representatives.
Mark Warner
VAsenateDemocratPurchaseJoint2026-04-08$1,001 - $15,000+23d to disclose