Hershey's Largest Shareholder Continues to Sell Small Amounts of Common Stock While Maintaining Trillions in Equity

The Hershey Trust Company, the largest shareholder of The Hershey Company (HSY), sold tens of thousands of common shares in multiple on-market transactions between May 18 and 27, raising approximately $14 million (around KRW 20 billion). As a result, its directly held common shares fell from about 1.62 million to roughly 1.55 million, but its total economic interest—including convertible Class B shares—remains sizeable at about $11 billion (approximately KRW 15 trillion).

At the end of April, Hershey reported its first-quarter 2026 financial results, recording revenue growth in its North American confectionery and snack businesses, along with year-on-year improvements in both operating income and margins. In late May, the company further refined its executive team by naming Mitchell Arends as Chief Supply Chain Officer and appointing Joe Park to its board of directors effective June 29.

The Hershey Trust Company, established to manage assets for the Milton Hershey School founded by Milton Hershey, wields control over Hershey through its holdings of common and Class B shares, providing a critical financial foundation for the school. Headquartered in Hershey, Pennsylvania, The Hershey Company is a global snack and chocolate manufacturer with a nearly 130-year history, offering more than 80 brands—including Hershey’s Bars, Reese’s, and Kisses—in about 65 countries worldwide.