Hershey Co Stock Price, News & Analysis

The Hershey Company (NYSE: HSY) announced the resignation of Damien Atkins, Senior Vice President and General Counsel, effective January 31, 2021, due to family illness. He will step down from his role immediately and focus on transitioning his responsibilities. James Turoff, Vice President and Deputy General Counsel, will act as General Counsel during the search for a successor. Atkins has been with Hershey since 2018 and played a significant role in legal and corporate governance. CEO Michele Buck recognized his contributions to the company's growth.

The Hershey Company (NYSE: HSY) announced a $1.5 million investment in the Thurgood Marshall College Fund (TMCF) to establish a scholarship endowment aimed at supporting students pursuing degrees in food science. The goal is to increase this endowment to $3 million over the next decade. This significant commitment marks the first time a company has established a scholarship endowment through TMCF, focusing on underrepresented populations. Hershey's ongoing partnership with TMCF underscores its commitment to diversity and education.

Hershey has announced the launch of a new festive treat, the Holiday Sugar Cookie Blossoms, combining a sugar cookie base with the recently introduced Hershey's Kisses Sugar Cookie candy. The cookie, inspired by Pennsylvania's baking traditions, aims to enhance holiday festivities and is one of over 25 variations in the Blossoms line. Brand manager Erin Crawford emphasized the ease of making these cookies, which can help create memorable holiday moments. For more recipes, Hershey invites customers to visit their website.

The Hershey Company (NYSE: HSY) announced its quarterly dividends of $0.804 for Common Stock and $0.731 for Class B Common Stock. These dividends will be payable on December 15, 2020, to stockholders on record as of November 20, 2020. This marks the 364th consecutive regular dividend for Common Stock and the 145th consecutive regular dividend for Class B Common Stock, reflecting the company’s ongoing commitment to returning value to shareholders.

The Hershey Company (NYSE: HSY) reported a strong third quarter ending September 27, 2020, with net sales reaching $2,219.8 million, up 4% year-over-year. The company achieved a 39% increase in net income to $447.3 million, resulting in diluted EPS of $2.14. Adjusted EPS rose 15.5% to $1.86. North America segment net sales grew 6.3%, driven by price realization and volume growth. However, international sales declined 14.4%. Hershey reinstated its full-year guidance, expecting reported net sales to rise around 1% and adjusted EPS in the range of $6.18 to $6.24 for 2020.

The Hershey Company (NYSE: HSY) announced a formal review of its U.S. media agency for its candy, mint, and gum business, excluding Amplify Foods and international markets. This evaluation aims to identify partners that can enhance Hershey's internal media capabilities in the evolving media landscape. The review is invitation-only for incumbent agencies, with a decision expected in Q2 2021. The company seeks to ensure its media investments drive growth as it adapts to an omnichannel environment.

Quinn, a natural foods snack company, has secured additional Series D funding from The Hershey Company (NYSE: HSY) and existing investors. This investment aims to enhance distribution and product innovation. Founded in 2010, Quinn has experienced a 65% revenue growth this year, establishing itself as the leading pretzel brand in the Natural Channel. Hershey's investment aligns with its commitment to sustainability and diversity, as well as supporting female entrepreneurs. Quinn's innovative snack products include gluten-free and organic options, underlining its dedication to ingredient transparency.

Hershey is launching the Hershey Halloween Squad to ensure a festive Halloween season in 2020. This team consists of renowned experts including food and lifestyle expert Justine Santaniello and parenting psychologist Dr. Michele Borba. They will provide creative Halloween tips and new recipes to engage families during celebrations. The company also introduced new seasonal products like Reese's Franken-Cups and Kit Kat Witch's Brew bars ahead of the season. Hershey supports Halloween safety guidelines amidst the pandemic, aligning with health organizations.