We have discussed the Hershey Company (HSY) several times in the last few years. We have discussed with members of BAD BEAT Investing that should the market continue to be volatile that we could start to see a rotation into dividend paying consumer staples. In recent weeks, solid dividend paying names have started catching a bid on the Street. One name which we have been bearish on in the last year is Hershey's. In this column, we discuss recent price action, performance, and make updates to our 2018 projections. Ultimately, we are not convinced this small rally will be sustained.

Recent price action

Let us be clear. We have been bearish on the name, calling it stagnant money and overvalued in the past. While we would love to own the name if it were ever cheap enough to yield 3.5%, we would have no problem owning it if it offered growth. Share prices have continued to decline in recent months but recently got a boost, pushing the yield further from that 3.5% level:

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