Hershey Continues to Lose Volume, Market Share as Packaged Food Sentiment Stays Weak, RBC Says

11:10 AM EDT, 10/27/2026 (MT Newswires) -- Hershey (HSY) continues to lose volume and market share as sentiment for packaged food remains weak, RBC Capital Markets said in a note Tuesday. Management said at a competitor conference on Sept. 9 that the categories Hershey sells in are running about 1 point ahead of its estimates and that it feels good about its 2026 outlook, though volumes may not turn positive until 2028, according to the note. About 1 point of Q3 merchandising shipments moved into Q2 and North America Confectionery benefited by about 2 points from retailer inventory replenishment in the quarter, while the year-earlier Q3 carried a 5-point benefit from international shipment timing and a softer-than-expected Halloween season, the investment firm added. Hershey is expected to report Q3 financial results on Thursday. RBC estimates earnings-per-share at $2.06, trailing the Street consensus of $2.11. RBC rates Hershey at sector perform with a $206 price target. Price: 164.36, Change: -3.87, Percent Change: -2.30