Hershey Announces Refinancing of 2023 Notes
May 2, 2023
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The Hershey Company ($NYSE:HSY), a leading manufacturer of chocolate, confectionary and snack products, has announced that it is refinancing its 2023 notes with new notes. This move is intended to reduce the amount of debt due in 2023 and extend the maturity dates of the notes. The Hershey Company has a long and storied history. The company has expanded its portfolio to include many of America’s favorite snacks, including Twizzlers, Reese’s Pieces, Kit Kats, and more.
In addition, Hershey has invested heavily in new technologies, including utilizing cocoa from sustainable sources and creating packaging that is more eco-friendly. The company also has a strong presence in international markets and continues to grow its business abroad. By issuing new notes to refinance its 2023 notes, Hershey is taking a proactive stance on its debt management. This move will help the company to continue to provide high quality products to its customers while reducing its long-term debt. The company’s ability to successfully refinance its debt is further proof of their commitment to financial stability and success.
Stock Price
On Monday, HERSHEY COMPANY announced that it is in the process of refinancing its 2023 notes. This news sent the company’s stock price up by 1.2%, as it opened at $274.1 and closed at $276.4, up from the previous closing price of 273.1. This is a positive step for the company as it moves forward with its strategic objectives and continues to provide value to its shareholders.
The new refinancing plan is expected to lower the company’s cost of capital, allowing it to invest more into growth opportunities. It is also expected to improve its liquidity and strengthen its balance sheet. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hershey Company. More…
| Total Revenues | Net Income | Net Margin |
| 10.74k | 1.7k | 17.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hershey Company. More…
| Operations | Investing | Financing |
| 2.43k | -811.73 | -1.5k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hershey Company. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.11k | 7.65k | 16.93 |
Key Ratios Snapshot
Some of the financial key ratios for Hershey Company are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 12.0% | 20.0% |
| FCF Margin | ROE | ROA |
| 17.4% | 39.7% | 12.1% |
Analysis
At GoodWhale, we’ve analyzed the financials of HERSHEY COMPANY to give an informed risk rating. After looking at the company’s financials, we’ve determined that HERSHEY COMPANY is a medium risk investment. This means that while there is some inherent risk associated with the company, the overall financial and business aspects of the company are sound. In addition to analyzing the financials, we’ve also detected two risk warnings in the balance sheet, which are non-financial in nature. To access this information, you’ll need to register with us to gain a deeper understanding of the company and its associated risks. We’re confident that by taking a few moments to register with us, you’ll be better prepared for your investment decision. More…
Peers
The Hershey Co. is the largest chocolate manufacturer in North America and a leading competitor in the global chocolate market. With more than 80 years of experience in the chocolate industry, The Hershey Co. has a strong reputation for quality and innovation. The company’s main competitors are Kellogg Co, Nestle SA, Josef Manner & Comp AG.
– Kellogg Co ($NYSE:K)
Kellogg Co is a multinational food manufacturing company headquartered in Battle Creek, Michigan, United States. Kellogg’s produces cereal and convenience foods, including cookies, crackers, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles, and veggie foods. The company’s products are marketed in over 180 countries.
– Nestle SA ($OTCPK:NSRGY)
Nestle is a Swiss food and beverage company with a market cap of 294.41 billion as of 2022. The company has a return on equity of 14.82% and is involved in the production and distribution of a wide range of food and beverage products, including baby food, bottled water, cereals, coffee, dairy products, and pet food. Nestle is one of the world’s largest food and beverage companies, with operations in over 190 countries.
– Josef Manner & Comp AG ($LTS:0F6A)
Joseph Manner & Company AG is a family-owned Austrian confectionery company headquartered in Vienna. It is one of the oldest companies in Austria, founded in 1860. The company produces a variety of chocolate and other confectionery products that are sold under the Manner and Mozart brand names.
Summary
Hershey Company is an attractive investment opportunity, due to its strong financial position and consistent growth. The company recently announced that it will be issuing new notes to refinance notes due in 2023, providing investors with an opportunity to participate in the company’s growth. Analysts suggest that Hershey has a strong balance sheet, and its current debt-to-equity ratio is one of the lowest in the industry.
Additionally, Hershey has consistently delivered solid returns over the past five years and has a solid dividend yield in comparison to other consumer staples companies. While there are some concerns to be aware of, such as Hershey’s exposure to changes in consumer tastes and potential risk from higher commodity costs, overall, Hershey appears to be a solid investment for long-term investors.
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