Investors continue to be hungry for Hershey’s shares

Iconic chocolate maker is in a sweet spot thanks to steady snack demand

Shares in snack products group Hershey (HSY:NYSE) have risen 22% to $261.40 since late January, propelled by well-received results in early February which beat market expectations at both the revenue and earnings per share lines.

Importantly, demand remained ‘steady’ despite pushing up prices, according to the company. It guided for 9% to 11% adjusted earnings per share growth in 2023, with sales growth and gross margin expansion expected to more than offset increased spending on marketing and technology, as well as higher pension and interest expenses. Investors liked what they heard and the stock has continued to tick up since the results, with the next quarterly figures set to be published on 27 April.

Hershey continues to expand its breadth of