Hershey at about $181.50. The dividend yield is a hair over 3% if you like that sort of thing.
Down 34% from their high price just over a year ago which was about $277.

I think it has been discussed on the boards this year, but it's back near its recent lows.

I think the main narrative is that the price of cocoa is through the roof, with few prospects for an easy fix, so nobody wants to touch them.
It's also a low growth firm with almost no serious business or prospects outside the US, and such a high market share in the US that they can't steal share for growth.

But...they make money year in and year out, they aren't going anywhere, the balance sheet is strong, and the valuation is the cheapest since the tech bubble peak based on trailing P/E, which was 24 years ago.
(an old fashioned P/E of 18 isn't a terrible yardstick for them, as the earnings are mostly pretty smooth)

I've had a position since late last year, not that it's done me any good ending today, but I think I might just double down. I'm a big fan of boring.

Jim

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