'Hershey' Major Shareholder Maintains 14 Trillion Won Stake Despite Selling Thousands of Shares

The Hershey Trust Company, trustee for the Milton Hershey School, disclosed that it sold tens of thousands of The Hershey Company (HSY) common shares on the open market in tranches from May 4–6 and May 18–22, raising roughly $16 million (about KRW 20 billion). According to the filings, the trust’s direct common‐stock holdings declined from approximately 1.72 million shares to about 1.57 million shares. However, including some 54.6 million convertible Class B shares, its total economic interest still exceeds $10 billion (around KRW 14 trillion), making these sales relatively small compared with its overall stake.

In its April 30 Q1 2026 results, Hershey reported revenues of about $3.1 billion (roughly KRW 4 trillion), up 11% year-over-year, and reaffirmed its full-year 2026 revenue and earnings guidance. Evercore ISI recently upgraded Hershey’s investment rating, citing confidence in the company’s second-half growth plans. The company also announced the retirement of its 30-year veteran head of supply chain at the end of May and the appointment of a new Chief Supply Chain Officer.

Headquartered in Pennsylvania, Hershey is a global chocolate and snack manufacturer selling more than 80 brands—including Kisses and Reese’s—in over 60 countries. With annual revenues exceeding $11 billion, it is one of the leading U.S. consumer-goods companies. The Milton Hershey School Trust is Hershey’s largest shareholder, and its dividends and proceeds from share sales are used to fund the school’s operations and scholarship programs.