Hershey Scares Up Solid Results to Start the All-Important Holiday Season; Shares Fairly Valued
Wide-moat Hershey’s third-quarter results--which included 1% organic sales growth and 30 basis points of degradation at both the gross (45.3%) and operating margin (22.0%) line--offered further evidence that CEO Michele Buck’s strategic road map to hone investments on its core U.S. brands stands to enhance its wide economic moat (which is anchored in its leading brand intangible assets and cost edge) and bolster performance longer term.ÂWhile organic sales were a bit tempered, we attribute this...
Hershey is engaged in the production of chocolate and non-chocolate confectionery. The company's segments are: North America, which is responsible for the company's chocolate and non-chocolate confectionery market position, and its grocery and snacks market positions, in the United States and Canada; and International and Other, in which the company has operations and manufactures product in China, Mexico, Brazil, India and Malaysia, and also distributes and sells confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions. The company's product offerings include chocolate and non-chocolate confectionery products, gum and mint refreshment products, snack and pantry items.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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