Everyone remembers going around as a child for one night of the year dressed up as his or her favorite ghoul or storybook character and returning home with a sack full of delicious candies. There were always a variety of candy types, but most of these candies were usually made by two of the major companies in the industry. The Hershey Company and the Tootsie Roll Company were both well represented on this night. Both companies made so many different types of candies for young children to enjoy that the names would forever be imbedded in their minds. These treats were not just for the children, but for the children in all the adults as well. Taste and memories alone are not good enough for the companies to have had as long a tradition as the companies have indeed had. Both of these companies have had financial success due to their good business practices and well structured companies. They are financially sound machines with a wonderful history in the home as well as the market. Company History
Both the Hershey Company and the Tootsie Roll Company specialize in a wide variety of chocolate candy products. "The Hershey Company is a leading snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products, with revenues of over $4 billion and more than 13,000 employees worldwide" (The Hershey Company, 1995-2005, para. 1). The Hershey Company originated with the candy manufacturer Milton Hershey. In 1894 Milton Hershey wanted to design a sweet coating for his already existing caramels, thus his new enterprise, the Hershey Chocolate Company began. The Hershey Company went public on the New York Stock Exchange (NYSE) in 1922. The Tootsie Roll Industries, Inc. was established in 1896. "The round piece of chewy, chocolatey candy that delights Americans today still looks and tastes amazingly like the first Tootsie Roll, made over 109 years ago" (The Tootsie Roll Company, n.d., para. 1). The Tootsie Roll "still sells for one penny, the original price, even though the company now offers candy packages priced up to $6.99. The first penny candies to be individually wrapped in paper, Tootsie Rolls are protected today" (The Tootsie Roll Company, n.d., para. 3). The Tootsie Roll Industry produces more than 60 million Tootsie Rolls per day and is also the world's largest lollipop supplier, producing 20 million lollipops daily (The Tootsie Roll Company, n.d., para. 5). The Tootsie Roll Industries, Inc. went public on the NYSE in 1927. New York Stock Exchange Company Information
The Hershey Company (Hershey) and Tootsie Roll Industries, Incorporated (Tootsie Roll) are two of the most profitable chocolate producing companies in their industry. Both of these companies are traded daily on the New York Stock Exchange (NYSE) in the confectioners industry. Those who like to watch the stocks each day and are interested in the stocks of these two companies would have to make sure they are tracking the correct ticker symbols. Hershey can be tracked by the ticker symbol HSY and Tootsie Roll can be tracked by TR. Stock prices in any industry fluctuate from day-to-day but Hershey and Tootsie Roll happen to be two of the top performing companies within the confectioners industry. Current stock prices show that Hershey is selling for about $58.22 a share and Tootsie is selling for about $31.45 a share (Yahoo Finance, 2005, para.1). Hershey and tootsie have been in business for the better part of 80 years and the stock prices have continued to grow. Stock prices dating back to the mid-1980's never fell below $45 a share and prices in the previous 12 months have reached a high of $65.19 a share (Yahoo Finance, 2005, para. 2). The chocolate industry continues to be a thriving business even after all these years.
Standard Industrial Classification Codes
Both companies (Hershey & Tootsie Roll) both fall into the category number 2064, defined as Manufacturers of Candy and Other...
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