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HSY

Hershey Co

NYSE: HSY · CONSUMER DEFENSIVE · CONFECTIONERS

$189.16
+0.66% today

Updated 2026-04-29

Market cap
$38.34B
P/E ratio
43.69
P/S ratio
3.28x
EPS (TTM)
$4.33
Dividend yield
2.92%
52W range
$147 – $239
Volume
1.9M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Hershey Co (HSY) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$189.16
Consensus
$216.94
+14.69%
2030 Target
$824.76
+336.01%
DCF
$200.45
-15.17% MoS
16 analysts:
2 Buy13 Hold1 Sell

Management guidance

At the March 31, 2026 Investor Day, Hershey reaffirmed 2026 net sales growth of 4-5% and organic sales growth of 2.5-3.5%, with adjusted EPS growth of 30-35%. CEO Kirk Tanner outlined the 'One Hershey' strategy targeting sustained top- and bottom-line growth through next-generation snacking expansion (premium, better-for-you, salty, functional categories) and a 25% increase in R&D funding. The company aims for margin recovery by 2027 and double-digit EPS growth long-term, driven by strategic acquisitions (SkinnyPop, Dot's Pretzels) and portfolio modernization.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,381.47
$14.1B Rev × 20x P/S
Base case (2030)
$824.76
$14.1B Rev × 12x P/S
Bear case (2030)
$556.71
$14.1B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$11.2B$11.2B$11.7B$12.4B$12.8B$13.2B$13.6B$14.1B
Revenue growth—0.3%4.4%6.1%2.8%3.1%3.4%3.7%
EPS$9.59$9.37$6.31$8.51$9.93$11.35$12.95$14.75
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$742.28$762.90$783.52$804.14$824.76

Catalysts & risks

Growth catalysts
+ Recipe reformulation to classic milk/dark chocolate for Reese's and Hershey's products (2027 launch) - addresses viral TikTok backlash and consumer sentiment
+ Next-generation snacking portfolio expansion into salty, better-for-you, and functional categories with enhanced R&D (25% increase)
+ SkinnyPop and Dot's Pretzels acquisition integration driving margin expansion and category diversification beyond traditional chocolate
+ Supply chain modernization and integrated 'One Hershey' commercial model targeting operational efficiency
+ Strong cocoa price decline (70% plunge from highs) improving gross margins despite premium ingredient commitments
Key risks
- Consumer pushback on ingredient quality and pricing power erosion if reformulation costs exceed margin recovery targets
- Competitive intensity in better-for-you snacking segment with entrenched players (Simply Good Foods, Mondelez) and emerging challenger brands
- Cocoa and commodity cost volatility — any rebound in input costs could pressure margins despite recipe changes
- North American retail volume softness and GLP-1 weight loss drug adoption reducing confectionery consumption
- High debt/equity ratio (1.24x) and elevated payout ratio (126.17%) limit financial flexibility for M&A acceleration or margin investment

Methodology

Hershey Co's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 16 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.