Feed / HSY

The Hershey Company

HSY

Consumer Defensive · 159.28 +1.1% today

Partial group confirmationMarket checked 1 Oct, 15:55 GMT-4

Market read

The Hershey Company's move is being confirmed by its market group.

HSY accounts for 15.4% of the group's measured movement across 7.0 effective names. raw member direction is mixed; 0 of 12 SPY-adjusted paths align to the mixed. Capital-flow agreement is 16%, so confirmation is not yet clean. No verified headline preceded the measured group move.

MOVE ANATOMY

Is this move genuinely shared?

SPY-adjusted 5m paths
Role in the moveIndependent mover#3 of 12 by movement share
Group movement share15.4%Absolute path energy—not portfolio weight
Relative path+1.11%mixed
Effective breadth7.0 / 12broad
Relative alignment0/12mixed path · 0 counter-moving
Capital-flow agreement16%not yet clean
SEQUENCE READ

CPB, CLX, FIZZ moved materially before HSY. HSY crossed its material path threshold at 09:45 ET, 10 minutes after the first measured mover. CHD, CAG followed.

EVIDENCE COVERAGE

12 of 26 members in Packaged Foods & Beverages are active. 0 of 3 disclosed connections are confirming.

What would change this read
  • At least 17 of 26 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as MZTI begins moving with the group.

Invalidation: The live read weakens if participation falls to 9 of 26 members or fewer.

Watch this read

Research brief

The story so far

Consumer Defensive · Confectioners

HSY accounts for 15.4% of the group's measured movement across 7.0 effective names. raw member direction is mixed; 0 of 12 SPY-adjusted paths align to the mixed. Capital-flow agreement is 16%, so confirmation is not yet clean. No verified headline preceded the measured group move.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • At least 17 of 26 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as MZTI begins moving with the group.

Company research

Understand the business, not just the ticker

As of Oct 2, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations616
Usable filing statements249
Verified relationships3
Evidence supporting the case
  • Operating cash flow covered net income at 2.58x in the latest annual period.
  • Pricing and mix has repeated favorable evidence across 5 filings.
Evidence challenging the case
  • Operating margin changed -13.5 percentage points in the latest annual period.
  • Net margin changed -12.3 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Demand and volume has repeated adverse evidence across 5 filings.
  • Foreign exchange has repeated adverse evidence across 5 filings.
  • Supply chain and availability has repeated adverse evidence across 5 filings.
  • Capital investment and capacity has repeated adverse evidence across 4 filings.
  • Energy and commodity prices has repeated adverse evidence across 4 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Oct 1, 2026

159.28
6m-21.5%12m-14.8%24m-16.4%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$9.0B+10.1%——
2022-12-31$10.4B+16.1%——
2023-12-31$11.2B+7.2%——
2024-12-31$11.2B+0.3%——
2025-12-31$11.7B+4.4%——

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
“During the first six months of 2026, we generated cash of $206.1 million predominately through the issuance of short-term commercial paper, partially offset by a decrease in short-term foreign bank borrowings.”
10-Q · Jul 30, 2026 ↗
Demand and volumemixed · 5 filings
“The increase was partially offset by volume declines of approximately 5% across certain key markets.”
10-Q · Jul 30, 2026 ↗
Foreign exchangemixed · 5 filings
“The increase was further due to a favorable impact from foreign currency exchange rates of approximately 5%.”
10-Q · Jul 30, 2026 ↗
Pricing and mixpositive · 5 filings
“The increase was due to favorable price realization of approximately 10%, resulting from strategic pricing actions across key markets.”
10-Q · Jul 30, 2026 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.

Scenario scaffold

No usable price/earnings or price/sales multiple (need a fresh price).

Price action

How the market is pricing the story

159.28+1.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for HSY. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for HSY. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind HSY

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

KDPKeurig Dr Pepper Inc.supplierFeb 17, 2026 ▾

“Refreshment Beverages (November 2023), President, Commercial & Beverage Concentrates (August 2022), Chief Customer Officer (October 2018), and Senior Vice President of Commercial Strategy (December 2017) for Keurig Dr.”

Depended on by

CGCCanopy Growth CorporationdistributorJun 15, 2026 ▾

“These charges were offset by a gain on the sale of our production facility at 1 Hershey Drive in Smiths Falls, Ontario.”

Filing peers

KHCDNUT

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

HSY is currently a Participant in the organic co-movement group Packaged Foods & Beverages. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.