The Hershey Company (NYSE: HSY) is a global consumer staples business best known for its confectionery brands. Shares recently traded around $189 per share, giving the company a market value of roughly $38.4 billion.
Often viewed as a defensive name with steady cash flows, looking at who owns Hershey and how insiders are trading helps show how large investors appear to be positioning around the stock today.
Who Are Hershey’s Top Shareholders?
Hershey’s shareholder base is led by large institutional investors. These firms tend to hold through market cycles, which can help support long-term ownership stability. Active managers adjusted positions in both directions, showing a blend of confidence and caution.
- The Vanguard Group: 18,807,328 shares (12.69%), ~$3.56B value. Added 33,223 shares (+0.18%).
- Capital International Investors: 8,936,771 shares (6.03%), ~$1.69B value. Cut 1,725,251 shares (-16.18%).
- BlackRock Institutional Trust Company: 8,631,471 shares (5.83%), ~$1.63B value. Added 44,926 shares (+0.52%).
- State Street Investment Management: 7,253,041 shares (4.89%), ~$1.37B value. Added 128,982 shares (+1.81%).
- Charles Schwab Investment Management: 5,191,189 shares (3.50%), ~$983M value. Added 74,450 shares (+1.46%).
- Geode Capital Management: 4,727,077 shares (3.19%), ~$895M value. Added 159,704 shares (+3.50%).
- RBC Capital Markets Wealth Management: 2,566,347 shares (1.73%), ~$486M value. Cut 26,432 shares (-1.02%).
- Citadel Advisors: 2,508,635 shares (1.69%), ~$475M value. Added 1,380,363 shares (+122.34%).
- Hershey Trust Company: 2,066,219 shares (1.39%), ~$392M value. Cut 178 shares (-0.01%).
Taken together, Hershey remains firmly supported by long-term institutional capital, while selective trimming by active managers suggests some reassessment around valuation rather than a broad shift in sentiment for investors.
Hedge Fund Highlights
Citadel Advisors, led by Ken Griffin, more than doubled its stake in The Hershey Company, lifting its position to roughly $475M value. The size of the increase stands out among hedge funds and suggests a more constructive stance toward Hershey’s defensive earnings profile.
Millennium Management, founded by Israel Englander, also increased exposure meaningfully, growing its holding to about $103M value. The scale of the move suggests the firm may see improving risk-reward after prior weakness in the stock.
Squarepoint Ops recorded one of the largest percentage increases, raising its position to approximately $36M value. While still modest in absolute size, the sharp change is notable relative to peer activity.
Jane Street Group expanded its Hershey position to nearly $11M value, which may reflect shorter-term positioning tied to pricing or volatility rather than long-term ownership conviction for investors.
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Hershey’s Recent Insider Trades
Insider trades can offer context on how executives and directors appear to be managing personal exposure. Recent filings for Hershey show small transactions on both the buy and sell side.
- Steven E. Voskuil (Officer): Sold ~$275K to ~$282K across multiple trades.
- Deepak Bhatia (Officer): Sold ~$1.06M.
- Cordel Robbin-Coker (Director): Sold ~$51K.
- Kirk L. Tanner (Officer and Director): Bought ~$370K.
- Barry James Nalebuff (Director): Bought ~$26K.
- Timothy William Curoe (Director): Bought ~$26K.
- Stacy Taffet (Officer): Bought ~$37K.
These transactions appear small relative to overall ownership, and it appears they do not materially shift insider positioning, offering limited directional signal for investors.
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What the Ownership & Insider Trade Data Tell Us
The Hershey Company’s ownership base remains anchored by large passive institutions, providing stability through market cycles. Active managers show mixed behavior, with some adding and others trimming, reflecting varied views on valuation and near-term performance.
Insider activity appears balanced and modest in size, with no transactions clearly signaling strong conviction in either direction. For investors, the data suggests Hershey continues to be treated as a high-quality, defensive consumer staples business, though current positioning reflects a measured and selective approach rather than broad enthusiasm for outsized near-term returns.
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