Founder Trust Sells Additional Shares of 'Hershey'... $20 Million Liquidated in May

The Hershey Trust Company, a major shareholder of The Hershey Company (HSY), disclosed that it sold approximately 80,000 shares of Hershey common stock on the open market in three tranches—May 4–6, May 18–20 and May 21–22—raising about $16 million (roughly KRW 20 billion). As a result, the Trust’s directly held common shares declined from around 1.72 million at the start of May to 1,576,119 as of May 22, while its separate holdings of 39,630 common shares and 54,612,012 convertible Class B shares remained unchanged. The total value of its Hershey stake is still estimated at about $10 billion (approximately KRW 13–14 trillion).

In its first-quarter 2026 financial results, Hershey reported revenue of $3.1042 billion, a 10.6% increase year over year, and reaffirmed its full-year sales and earnings guidance. In March, the company announced an organizational restructuring that unifies its U.S. Sweet, Salty Snacks and Protein brands under a single “ONE Hershey” operating model to streamline its portfolio and strengthen customer partnerships.

Headquartered in Hershey, Pennsylvania, The Hershey Company is a global chocolate and snack manufacturer that generated about $11.7 billion in revenue in 2025 and is a member of the S&P 500, with multiple snack brands including Reese’s. The Hershey Trust Company serves as trustee of the Milton Hershey School trust, established by founder Milton Hershey in 1909. It uses dividends and income from Hershey shares to support the school’s multi-billion-dollar endowment (worth trillions of KRW) and exerts governance influence through its voting stake in Hershey.