Don't Kiss Hershey Goodbye
This level of performance has not been lost on the Street. Accordingly, not only has Hershey stock soared as high as 43%, but the company has been rewarded with a decadent P/E of 28, which melts away the industry's average multiple of 7.
In that regard, it's hard for me to develop a "Hershey sweet tooth" here, given my bias as a value investor. Especially when I can taste Nestle
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That said, I don't necessarily agree with the recent arguments and talking points that have been raised against Hershey, particularly given the company's international growth expectations. I won't argue against the fact that both Nestle and Mondelez
What's more, despite the rash of mergers and acquisitions activity that has overtaken an industry that is perpetually consolidating, that Hershey still dominates the U.S. in terms of large customers, is encouraging. And contrary to popular opinion, I don't believe the company's 6.1% revenue growth in the recent quarter was fluke.