Join the NASDAQ Community today and get free, instant access to portfolios, stock ratings, real-time alerts, and more! MDLZ issued a press release on Aug 29 stating that it is no longer pursuing the probable merger with Hershey. Mondelez had expected that the merger of the two food giants would create a global leader in snacking, confectionary and complementary brands.

However, Hershey's board of directors unanimously rejected the offer in June.

Why Hershey Is a Sweet Stock to Buy Now - TheStreet

Mondelez eventually reached the decision after several discussions and indicated that there was no clear path toward an agreement. Reportedly, The Hershey Trust, which controls the majority of Hershey's shareholder votes, was reluctant about the sale. Moreover, significant transitional changes are underway at Hershey Trust and are anticipated to take time to complete.

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The big question now for investors is whether it's the right time to buy Hershey stock after the big drop.

Hershey's sales trends have been weak since due to weak category trends, increased competition from broader snacking category and soft international growth due to macro headwinds.

A shift in consumer preference toward healthier snacks like nuts and increased competition from the broader snacking category is lowering the demand for chocolate. Moreover, changing shopping habits in the U. In fact, the company is witnessing chocolate category softness in key international markets like China as well. Hershey's lower-than-expected performance compelled it to lower its sales guidance twice this year.

As it is Hershey has been trying to shift focus to snack items and more premium products. In this regard, it launched Reese's Snack Mix and Hershey's Snack Bites canister this year. Last year in March, Hershey acquired a Californian producer of premium jerky products, KRAVE Pure to enter the fast growing meat snacks market.

The Apr acquisition of New York-based barkTHINS premium chocolate snacking brand was also targeted on building the company's better-for-you snacks portfolio. Though sales have been weak, its margins have been better supported by supply chain savings and productivity gains. Moreover, in order to improve sales, Hershey is increasing innovation activity, marketing investments, making strategic acquisitions and diverting focus to snack items.

However, we suggest it is better to remain on the sidelines until these efforts lead to some significant sales and volume improvement. Hershey carries a Zacks Rank 3 Hold. Some better-ranked stocks in the consumer staples sector include Ingredion Incorporated INGR and Omega Protein Corporation OME , both sporting a Zacks Rank 1 Strong Buy.

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Join Today Already a member? After Big Drop, Is it Time to Buy Hershey HSY Stock? August 31, , However, it's not all grim for Hershey. Stocks to Consider Hershey carries a Zacks Rank 3 Hold. Confidential from Zacks makeArticleAd ;. This article appears in: Investing , Business , Stocks.

HSY , OME , INGR , MDLZ. Hershey HSY Up 7.

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