No. of Recommendations: 3
We're getting back near the recent lows again. Basically flat over 1 year, save the return from dividends.
The recent drop of about 9% in the last month seems to be in part fueled by bearish analyst downgrades, e.g.,:
https://archive.ph/ObUDH (Jeffries downgrade to Underperform based partly on growing price gap between chocolate and other snacks)
https://archive.ph/gFHcT (UBS neutral to buy based on continuing concerns re gross margins and cocoa prices)
Hershey also just announced a $500 million investment as part of an agreement with 9 cocoa co-ops in Cote D'Ivoire, some of which is targeted to stabilizing supply and helping farmers "professionalize cocoa farming and improve their profitability".
