Hershey

Bernstein expects Hershey and Mondelez to expand their successful product collaborations rather than pursue a full merger. Attractive areas for cooperation include China and Western Europe, where Mondelez has a stronger distribution network and Hershey could grow market share via licensing agreements or joint ventures. An acquisition remains theoretically possible but is unlikely because the Hershey Trust controls voting rights and a deal would cause short-term earnings dilution; Bernstein’s models show, however, that long-term cost synergies could boost EPS. » Altro su de.investing.com

Hershey said Reese's pumpkin-shaped candies will return to stores this month with the same smooth, uncarved shape after a 2025 lawsuit over deceptive packaging was dismissed. The company is launching its largest Halloween lineup with 20 themed products, including returning and new items across chocolate and non-chocolate snacks. Hershey noted Reese's pumpkins remain a top seasonal seller as consumers increasingly buy Halloween items earlier in the year. » Altro su cbsnews.com

Hershey stock trades at $184.23, about 24% below its highs, while a fair-value model estimates intrinsic value at $204.96 (upside 11.2%). High cocoa prices squeezed margins and drove EPS down from $10.92 (2024) to $4.34 (2025); gross margin is 33.5%. Q2 beat expectations (EPS $1.90 vs. consensus $1.43), but analysts remain skeptical due to competitive pressure and high debt ($5.92bn, debt ratio 129.8%). Management expects relief from cocoa deflation in H2 2026; dividend yield is 3.2%. » Altro su de.investing.com