The Hershey Trust Co., operating in its capacity as trustee for the Milton Hershey School, has reported the disposal of a substantial block of The Hershey Company (NASDAQ:HSY) common stock. The total value of these transactions reached $5,304,500. The sales were executed over a three-day window spanning from June 22 to June 24, 2026.
As a ten percent owner of the confectionery manufacturer, the trust reduced its direct position by 29,920 shares. The shares were liquidated at prices fluctuating between $167.90 and $183.56 per share. Following these dispositions, the Hershey Trust Co. retains a direct holding of 1,366,119 shares of Hershey Co. common stock. The trust also maintains an indirect stake of 39,630 shares through the Hershey Trust Company, a wholly owned subsidiary of the Milton Hershey School Trust. Furthermore, the trust holds a significant derivative position comprising 54,612,012 shares of Class B Common Stock. These Class B shares carry a one-for-one conversion right into common stock, exercisable at any time with the conversion price tied to the previous business day's market price. There is no expiration date attached to this conversion right.
The timing of these sales is notable given the current market context for Hershey. The stock is currently trading at $183.04. This price point represents a 24% decline from its 52-week high of $239.48. Despite this downward movement, analysis suggests the stock may remain undervalued at current levels.
In parallel with this insider activity, The Hershey Company has announced several key organizational and financial developments. Heather Hoytink has been appointed as President of U.S. operations, effective July 8, 2026. Hoytink brings prior leadership experience from PepsiCo. Additionally, Mitchell Arends has been named Chief Supply Chain Officer, succeeding Jason Reiman, who is set to retire after three decades with the company.
Financial assessments of Hershey have also seen positive revisions. Moody's Ratings affirmed the company's A1 rating and revised its outlook to stable, citing expected margin expansion and earnings growth. S&P Global Ratings similarly revised its outlook to stable while maintaining its 'A' long-term issuer credit rating, pointing to sustained leverage and anticipated EBITDA growth. Evercore ISI upgraded the stock rating to Outperform, expressing optimism regarding the confection category's outlook for the latter half of 2026.