Hershey Lowers 2026 Sales Growth Forecast as Halloween Chocolate Costs Rise

According to CNBC, Hershey lowered its 2026 organic sales growth forecast to 3%, from 3%-3.5%, after reporting third-quarter results Thursday. Jefferies analyst Scott Marks said the revised forecast implies “flattish” organic growth in the fourth quarter and cut his price target on the stock to $170. Wells Fargo estimates chocolate prices will be about 8% higher than last Halloween, with effective transaction prices rising roughly 5% to 8% after promotions. Halloween chocolate dollar sales were down 7.2% from a year earlier through the nine weeks ended Oct. 17, according to NIQ.