The Hershey Trust Co., serving as trustee for the Milton Hershey School, disclosed the sale of Hershey Co. (NASDAQ: HSY) common stock across three trading days in early April 2026. According to the filings, the trust sold a reported 22,300 shares on April 6, 7 and 8, 2026, for aggregate proceeds of approximately $6.2 million, with executed prices spanning from $205.45 up to $208.5732.
Detailed transaction listings in the disclosure break the activity down by day and by blocks of shares. On April 6 the trust recorded sales of:
- 85 shares at $205.45,
- 500 shares at prices ranging from $206.3200 to $206.9900,
- 7,681 shares at prices ranging from $207.0100 to $207.9900, and
- 1,734 shares at prices ranging from $208.0000 to $208.7300.
On April 7 the filing shows sales of:
- 17 shares at prices ranging from $205.9700 to $205.9800,
- 4,514 shares at prices ranging from $206.0000 to $206.9900,
- 4,006 shares at prices ranging from $207.0000 to $207.9900, and
- 1,463 shares at prices ranging from $208.0000 to $208.8800.
The April 8 activity listed in the disclosure comprised:
- 416 shares at prices ranging from $206.2700 to $206.9500,
- 2,142 shares at prices ranging from $207.0511 to $207.9949, and
- 7,442 shares at prices ranging from $208.0200 to $208.9900.
Per the report, these transactions occurred as HSY shares were trading near $209, a level the filing notes is about 34% higher than the stock's price one year prior. The filing also references InvestingPro analysis indicating that the stock is currently trading above its Fair Value.
After completing the reported sales, the Hershey Trust Co. is listed as directly holding 1,906,119 shares of Hershey Co. common stock and indirectly holding 39,630 shares. The trust is also shown as retaining 54,612,012 shares of Class B Common Stock.
The disclosure additionally points to recent analyst commentary following Hershey's investor day. The company reiterated its fiscal 2026 guidance and provided an outlook that included expectations for earnings per share growth of 15% to 20% in 2027.
Analyst reactions documented in the filings and accompanying notes are varied. TD Cowen is recorded as maintaining a Hold rating with a $210 price target, citing the potential for 2027 earnings growth. DA Davidson is noted as lowering its price target from $243 to $230 on valuation concerns while keeping a Neutral rating. UBS trimmed its price target to $215 from $236, also pointing to valuation issues and retaining a Neutral stance. Stifel is listed as reiterating a Hold rating with a $230 price target and highlighted the company's growth plans within the confection and snacking segments.
For investors seeking further valuation detail, the disclosure references a Pro Research Report available on InvestingPro for additional analysis of HSY's valuation metrics and broader research coverage.
The filings present a concise record of the trust's recent disposals, the trust's remaining holdings, and contemporaneous analyst positioning, without offering additional commentary on motives behind the sales or on prospective market effects.