The Hershey Trust Co., acting as trustee for the Milton Hershey School, has filed 661 Form 4 trades, all in a single company: Hershey (HSY). The aggregate figures show a clear sell bias. Total open-market sales reached $242,047,243.24, while open-market purchases totaled $27,573,356.04. The trust recorded no acquisitions through grants or option exercises in this window.
The recent activity is exclusively on the sell side. Over the five trading days from September 11 to September 18, 2026, the trust filed 25 open-market sales (code S) with a combined value of roughly $9.5 million. The daily pattern was consistent: September 11 saw three sales worth about $1.73 million, September 14 had five sales totaling $1.74 million, and September 15 included five sales for $1.71 million. The largest single transaction in the recent batch was a $1,569,444.08 sale on September 11. September 16 and September 17 each brought three sales, and September 18 closed the week with five sales.
The trust has not made a single open-market purchase in the recent period, and the 25 consecutive sales outnumber any buying activity by a wide margin. The dollar values per trade range from small amounts near $13,000 to the seven-figure sale on September 11. The direction is unambiguous: the trustee is reducing its HSY position steadily, with no offsetting acquisitions in the filing data.
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