Morgan Stanley has upgraded Hershey Co (HSY) to Overweight from Equal-Weight as of December 14, 2025. This change signals a more optimistic view on the company's future prospects.
Hershey Co, headquartered in Hershey, Pennsylvania, manufactures and markets a wide range of chocolate, sweets, mints, and confectionery products. The company operates through several segments, including North America Confectionery, North America Salty Snacks, and International, employing approximately 18,540 full-time staff. The North America Confectionery segment is particularly significant, encompassing traditional chocolate and non-chocolate products in the United States and Canada. This includes well-known brands such as Hershey's, Reese's, and Kit Kat, alongside salty snacks like SkinnyPop.
As of December 11, 2025, Hershey's market capitalisation stands at $36.8 billion, with a price-to-earnings ratio of 27.07 and an earnings per share of 6.69. The company's dividend yield is notably high at 304.3%. Upcoming earnings reports are expected on July 28, 2026, with an estimated EPS of $1.21 and revenue of $2.7 billion, and on April 29, 2026, with an estimated EPS of $1.83 and revenue of $3.0 billion.
Analyst ratings and price targets are based on research and financial models, reflecting professional opinions that can vary over time. The consensus rating for Hershey Co remains a Hold, with 2 Strong Buy, 6 Buy, 18 Hold, 2 Sell, and no Strong Sell ratings among 28 analysts. Recent actions include Morgan Stanley's upgrade and Stifel's maintenance of its Hold rating.
This update provides insight into the evolving analyst sentiment regarding Hershey Co's business performance and strategic direction.