Hershey Trust Co., which holds a roughly ten percent stake in Hershey Co. (NYSE: HSY), completed multiple disposals of Hershey common shares over a three-day span, selling a total of 29,453 shares for approximately $6.4 million. The block trades took place on March 25, 26 and 27, 2026, at prices spanning $209.98 to $217.0948.
The sales came while Hershey's shares were trading at $213.73 on the cited date, representing a 29% increase over the previous 12 months, according to the data referenced. At the same time, InvestingPro analysis mentioned in reports assessed the stock as currently overvalued relative to its Fair Value. The company is described as a $43.2 billion business trading at a price-to-earnings ratio of 49.3, a premium multiple consistent with valuations in the consumer staples sector.
Details of the March 25 transactions
- 300 shares sold at an average price of $212.6387
- 600 shares sold at $213.4164
- 700 shares sold at $214.6774
- 1,675 shares sold at $215.5373
- 1,185 shares sold at $216.5819
- 5,540 shares sold at $217.0948
March 26 transactions
- 20 shares at $209.98
- 3,759 shares at $210.4749
- 1,810 shares at $211.341
- 1,511 shares at $212.5063
- 903 shares at $213.1924
- 860 shares at $215.6644
- 1,136 shares at $216.3939
- 1 share at $217.01
March 27 transactions
- 254 shares at an average price of $210.6252
- 91 shares at $211.6069
- 1,437 shares at $212.7623
- 4,194 shares at $213.5951
- 2,873 shares at $214.5348
- 1,151 shares at $215.2431
After these dispositions, Hershey Trust Co. is reported to directly own 1,966,119 shares of Hershey Co. common stock. The trust also indirectly holds 39,630 shares via Hershey Trust Company. In addition to those common shares, the trust is listed as holding 54,612,012 shares of Class B Common Stock. The ownership document related to the filings was signed on March 27, 2026, by Joshua D. Shannon, Deputy Chief Investment Officer.
The filings present a snapshot of a significant holder making measured sales while retaining a large overall position through both direct common-stock holdings and an extensive Class B stake. The transactions were executed at several price points within a relatively tight band, reflecting the intraday range during the three trading days.
Analyst coverage and forward-looking estimates
Separately, recent analyst commentary and changes to price targets have accompanied the reported sales. Evercore ISI raised its price target for Hershey to $255, attributing the lift to expected volume growth tied to higher investments in merchandising, brand collaborations, innovation, and marketing. Evercore ISI also increased its 2027 earnings-per-share estimate to $10.24, which the firm said represents a 21% year-over-year rise and exceeds the consensus estimate of $9.84.
Piper Sandler maintained an Overweight rating and a $249 price target, citing strong 2026 guidance and favorable cocoa cost trends that the firm said could positively influence 2027 results if those trends persist. RBC Capital left a Sector Perform rating in place, noting visibility on earnings per share through 2026 and 2027 in part because of cocoa deflation. Stifel raised its target to $230 from $195 and kept a Hold rating after a robust fourth-quarter earnings release and 2026 guidance that outperformed expectations.
Collectively, these analyst moves portrayed a broadly favorable view of Hershey's near-term financial prospects while differing on valuation and rating classifications. At the same time, independent valuation commentary referenced in filings characterized the shares as overvalued relative to their Fair Value, underscoring a valuation debate among market participants.
What this means for markets
The trust's sales and the analyst updates highlight two areas investors monitor closely: shareholder activity among major holders and evolving sell-side expectations. Both factors can influence sentiment in the consumer staples and packaged foods segments of the equity market. The filings show a material holder trimming holdings while still maintaining a sizeable aggregated position, and analysts continue to weigh the implications of merchandising, marketing, product innovation and commodity cost trends on earnings trajectories.
Given the specific nature of the filings and the stated analyst positions, market participants have clear data points on ownership levels, realized prices from the trust's sales and a range of forward-looking EPS and price-target estimates to factor into their own assessments.