Key Points
The disposition involved 1,500 shares valued at $255,000, executed at a weighted average price of $170.00 per share on July 20, 2026.
The transaction reduced the insider's direct equity position by 3%, leaving a remaining stake with a market value of ~$9.13 million.
The sale was conducted entirely through direct ownership, with no indirect holdings reported in the filing.
This trade was executed under a Rule 10b5-1 trading plan established on May 20, 2025, suggesting a pre-planned liquidity event.
Steven E. Voskuil, SVP, Chief Financial Officer at The Hershey Company (NYSE:HSY), sold 1,500 shares of common stock on July 20, 2026, according to an SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (directly held) | 1,500 |
| Transaction value | $255,000 |
| Post-transaction shares (directly held) | 53,195 |
| Post-transaction value | ~$9.13 million |
Transaction value based on SEC Form 4 weighted average sale price ($170.00); post-transaction value based on July 20, 2026, market close ($171.70).
Key questions
- How does this sale align with the insider's long-term trading strategy?
The transaction was facilitated by a Rule 10b5-1 plan adopted 14 months prior to execution, indicating the sale was scheduled independently of current market conditions or short-term performance. - What is the insider's remaining financial exposure to the company?
Following the sale, Steven E. Voskuil maintains a direct ownership stake of 53,195 shares, representing an insider ownership interest of 0.0262% of the company. - What was the valuation environment at the time of execution?
The 1,500 shares were sold at $170.00 per share, occurring as the company's one-year total return stood at 0.24% as of the July 20, 2026, market close.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-07-20) | $171.70 |
| Market Capitalization | $34.8 billion |
| Revenue (TTM) | $12.0 billion |
| Net Income (TTM) | $1.1 billion |
Company Snapshot
- The Hershey Company manufactures and distributes a comprehensive portfolio of confectionery products and salty snacks, generating revenue through three primary business segments: North America Confectionery, North America Salty Snacks, and International operations.
- The company operates a vertically integrated business model encompassing manufacturing, distribution, and retail partnerships across domestic and international markets, leveraging its established brand portfolio and supply chain infrastructure to drive profitability.
- Hershey serves consumers across retail channels, including grocery stores, convenience stores, and mass merchandisers, with primary customer bases spanning individual consumers and institutional buyers in the United States and select international markets.
The Hershey Company is a leading global confectionery manufacturer with a market capitalization of $34.8 billion and TTM revenues of $12.0 billion, positioning it as a dominant player in the consumer defensive sector. The company's diversified product portfolio and multi-segment operational structure provide revenue stability and cross-selling opportunities across complementary categories. Hershey's competitive advantages include iconic brand recognition, established distribution networks, and operational scale that support sustained profitability and market share retention in the competitive confectionery industry.
What this transaction means for investors
Steven E. Voskuil, an executive at The Hershey Company (HSY), recently sold 1,500 shares of the company’s stock, valued at approximately $255,000. Here are some key takeaways for investors.
To begin, it’s important to note that this sale was part of a prearranged plan, agreed to more than a year before it took place. As such, the transaction has nothing to do with the company’s current performance or near-term prospects.
However, there’s no hiding it: Hershey stock has underperformed the broader market for years. Over the last 10 years, Hershey stock has delivered a total return (inclusive of dividends) of 109%, equating to a compound annual growth rate (CAGR) of 7.7%. The S&P 500, meanwhile, has generated a total return of 302%, with a CAGR of 14.9% over the same period.
A big test will come for the company on July 30, when it releases its second-quarter earnings results (for the three months ending on June 30, 2026). Analysts will have a close eye on operating margins, which have fallen in recent quarters. Operating margin currently stands at around 15%, down from nearly 24% as recently as 2023.
In short, Hershey has suffered from a trifecta of macroeconomic shocks. Higher cocoa prices have led to much higher input costs for the company’s key products. In addition, tariffs have also raised costs, as the shifting trade policies have introduced volatility into its supply chain. Finally, the company was forced to ramp up marketing, advertising, and retail merchandising budgets to prop up sales volumes, further compressing its margins.
To sum up, Hershey stock has struggled in recent years. Investors with an interest in the stock should pay close attention to the company’s upcoming earnings report, particularly its results and commentary on operating margins.
Jake Lerch has positions in Hershey. The Motley Fool has positions in and recommends Hershey. The Motley Fool has a disclosure policy.