Two trick-or-treat stocks to watch this Halloween

Follow us on Google News:
More on:
 Two trick-or-treat stocks to watch this Halloween
Image source: © Ezthaiphoto | Megapixl.com

Highlights:

  • Nearly 70 per cent of Americans have planned to spend on Halloween-related activities this year.
  • Both the HSY and TR stock touched their 52-week high on October 28.
  • Tootsie Roll Industries, Inc. (NYSE: TR) noted a 16 per cent growth in its Q3 FY22 net sales.

The holiday season is on focus, and investors might be keeping a close track of trick-or-treat stocks like The Hershey Company (NYSE: HSY), and Tootsie Roll Industries, Inc. (NYSE: TR) amid the Halloween mood. Whether decorating the houses or doing shopping for Halloween, more people are expected to take part in the activities this year, especially after two years of restrictions due to COVID-19.

According to National Retail Federation (NRF), about 69 per cent of consumers planned to participate in Halloween-related activities in 2022, an increase from 65 per cent in the prior year.

Considering the percentage, total Halloween spending is expected to be as much as US$ 10.6 billion, a surge from a spending of US$ 10.1 billion last year.

So, let's look at the stock's recent performance and other key factors of the companies amid the holiday mood.

The Hershey Company (NYSE: HSY)

The leading chocolate manufacturing firm, The Hershey Company, holds a dividend yield of 1.73 per cent. The chocolate and cocoa product firm's stock added over 24 per cent YTD and 33 per cent YoY while touching its 52-week high of US$ 240.54 last Friday, October 28.

The US$ 49.18 billion market cap company would report its earnings results on November 4. Meanwhile, in Q2 FY22, its consolidated sales were reported at US$ 2.37 billion, a jump of 19.3 per cent YoY, and its net income rose 5.5 per cent YoY to US$ 315.6 million.

Third quarter earnings highlights of Tootsie Roll Industries Inc (TR)Source: ©Kalkine Media®; © Canva via Canva.com

Tootsie Roll Industries, Inc. (NYSE: TR)

The sugar and confectionery product manufacturing firm Tootsie Roll Industries, holds a dividend yield of 0.89 per cent. The company specializes in manufacturing confectionery products and sells its products in several international markets like Canada, Mexico, etc.

The price of the TR stock jumped over 15 per cent YTD and about 31 per cent YoY while touching its 52-week high of US$ 40.65 last Friday.

According to its earnings release on October 26, Tootsie Roll Industries' sales were up 16 per cent YoY to US$ 211.88 million in Q3 FY22, and its net earnings rose eight per cent YoY to US$ 26.57 million.

Bottom line:

The consumers planned to spend an average of US$ 100 for candy, decorations, cards, costumes, etc., this Halloween, the NRF report showed. The holiday season is also on the door, with consumer spending expected to increase significantly this year.

The Americans have had to go through pandemic-led restrictions for the last two years. But still, consumer spending remained stable during the period.

The NRF report also showed that around 47 per cent of adult consumers started their Halloween shopping last year, most of whom have spent on costumes.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Featured Articles