Hershey Trust Sells 20,000 Shares for $3.4 Million
The Hershey Trust Company sold 20,000 shares of The Hershey Company (HSY) at an average price of $169.08 per share in a transaction valued at approximately $3.4 million. This sale was reported via an SEC Form 4 filing and executed over two trading sessions with prices ranging from $166.74 to $171.48. The Hershey Trust now holds around 805,749 shares of HSY stock post-transaction. The transaction reduced the trust's direct ownership in common stock by about 3%, leaving it with approximately 766,119 directly held shares and an additional 39,630 indirectly held. The Hershey Trust also manages derivative units convertible into Class B common stock, which could further impact its equity position. While the sale may reflect operational needs of the Milton Hershey School Trust rather than a negative outlook on HSY's performance, it is notable given the company’s flat five-year share price trajectory.
Tickers: $HSY
Topics: SEC filing stock sale The Hershey Company