Do Wall Street Analysts Like Hershey Stock?

The Hershey Company (HSY), headquartered in Hershey, Pennsylvania, manufactures and sells confectionery products and pantry items. Valued at $37.1 billion by market cap, the company's principal products include chocolate and sugar confectionery products, gum and mint refreshment products, and pantry items, such as baking ingredients, toppings, and beverages.

Shares of this confectionery and snack giant have underperformed the broader market over the past year. HSY has declined 3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 21.5%. In 2026, HSY stock is up marginally, compared to the SPX’s 12.6% rise on a YTD basis. 

Narrowing the focus, HSY’s underperformance is also apparent compared to the First Trust Nasdaq Food & Beverage ETF (FTXG). The exchange-traded fund has gained about 2.1% over the past year. Moreover, the ETF’s 8.7% gains on a YTD basis outshine the stock’s marginal returns over the same time frame. 

HSY lagged on international margin pressure despite solid demand in Brazil, the U.K., and India. Delayed cocoa pricing and higher logistics costs weighed on margins, especially in salty snacks. Management is leaning on productivity and technology to drive a rebound.

On Jul. 30, HSY shares closed down by 3.6% after reporting its Q2 results. Its adjusted EPS of $1.90 surpassed Wall Street expectations of $1.45. The company’s revenue was $2.8 billion, exceeding Wall Street forecasts of $2.7 billion. HSY expects full-year adjusted EPS in the range of $8.36 to $8.52.

For the current fiscal year, ending in December, analysts expect HSY’s EPS to grow 34.4% to $8.48 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 22 analysts covering HSY stock, the consensus is a “Moderate Buy.” That’s based on six “Strong Buy” ratings, 15 “Holds,” and one “Strong Sell.”

This configuration is less bullish than two months ago, with one analyst suggesting a “Moderate Buy.”

On Aug. 4, JPMorgan Chase & Co. (JPM) analyst Thomas Palmer maintained a “Hold” rating on HSY and set a price target of $193, implying a potential upside of 5.5% from current levels. 

The mean price target of $203.65 represents an 11.3% premium to HSY’s current price levels. The Street-high price target of $255 suggests a notable upside potential of 39.3%.