NEW YORK (TheStreet) -- Shares of the Hershey Co. (HSY) - Get Hershey Company (HSY) Report are falling by 6.96% to $100.19 in mid-morning trading on Thursday, as the chocolate and candies producer reports its 2014 fourth quarter earnings results which fell short of analysts' expectations.
For the most recent quarter the Reese's peanut butter cup maker said its adjusted earnings were $1.04 per share versus the $1.06 per share analysts polled by Thomson Reuters were anticipating.
Hershey's consolidated net sales for the latest quarter were $2.01 billion compared to the $2.07 billion analysts had forecast.
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Hershey, among other U.S. companies, has said that a strong dollar is hurting its business and has been struggling with slow sales in some of its U.S. stores and international markets due to rising cocoa and dairy prices, the Wall Street Journal reports.
Hershey also announced today that it will acquire KRAVE Pure Foods Inc. a manufacturer of jerky products allowing the company to enter into the fast growing meat snacks industry.
Hershey said its saw strong Halloween and holiday sales last quarter but added that its non-seasonal results softened as more consumers were looking for bakery, salty, and meat snacks, the Journal added.
For 2015 Hershey has guided for earnings of $4.30 per share to $4.38 per share while analysts are expecting $4.46 per share for the year.
Separately, TheStreet Ratings team rates HERSHEY CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HERSHEY CO (HSY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: HSY Ratings Report