Value Investing with Sven Carlin, Ph.D. on $HSY (Nov 8, 2026)
AI summary · Value Investing with Sven Carlin, Ph.D.
HSY is fairly or overpriced after peaking in 2022, with a 3% dividend yield and 20 P/E giving a 6-7% total yield and 4-5% growth, so against 5% 10-year Treasuries one cannot expect much despite good work.
Bearish
“Caterpillar CAT, Hershey HSY, Honeywell Aerospace HONY/HONA, Polaris PII...”
Value Investing with Sven Carlin, Ph.D.Published Nov 8 · 1 passage
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Let's start with Hershey's. I think this can be summed up as the early twenties' obsession with any return, with additional growth, it doesn't matter . This peaked in 2022. Since then, the situation has been bad.
The dividend yield is only 3%, and the price-to-earnings ratio is 20. When you add everything up, you get a yield of 6 or 7%. If you look at business, well, yes, 4-5% growth, but with Treasury bonds at 5% for 10 years, you can't expect much.
Good work, but it is still fairly or overpriced based on past historical success .