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HSY

The Hershey Company

Consumer Defensive · $32.8B market cap

Verdict

Share price

$160.19

close of Oct 3, 2026

Fair value

$139.28

Sticker Price

Payback Price

$55.71

buy price

Overpriced

HSY is Overpriced: at $160.19 it trades 15% above its fair value of $139.28. Its buy price (Payback Price) is $55.71, 65% below today's price. Business quality is solid: 3 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 4% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

3 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth10.3% a year✓
Equity per share growth12.8% a year✓
Sales growth4.6% a year✗
Free cash flow growth7.7% a year✗
Return on invested capital18.3%✓

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Superinvestors

5 of the investors we track hold HSY. In Q2 2026, 1 trimmed. Who we track

Steven Check

Check Capital Management · as of Q2 2026

$36.0M

205,272 shares

Thomas Gayner

Markel Group · as of Q2 2026

$13.2M

75,000 shares

Mairs & Power Funds

Mairs & Power Funds · as of Q2 2026

$10.7M

61,044 shares

Hillman Capital Management

Hillman Capital Management · as of Q2 2026

$1.9M

10,608 shares

Lee Ainslie

Maverick Capital · as of Q2 2026

$1.2M

6,924 shares

Moves in Q2 2026

Trimmed: Lee Ainslie

Insider activity

Since Aug 5, 2026: no open-market purchases, 98 sales worth $44.9M and 2 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-09

Sold

$427K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-09

Sold

$1.1M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-09

Sold

$226K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-08

Sold

$318K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-08

Sold

$1.3M

Show all 98 sales

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-08

Sold

$58K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-08

Sold

$61K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-04

Sold

$234K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-04

Sold

$1.5M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-03

Sold

$123K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-03

Sold

$793K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-03

Sold

$323K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-03

Sold

$219K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-03

Sold

$287K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-02

Sold

$64K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-02

Sold

$300K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-02

Sold

$977K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-02

Sold

$173K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-02

Sold

$259K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-01

Sold

$404K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-01

Sold

$530K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-01

Sold

$786K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-01

Sold

$47K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-09-01

Sold

$4K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-31

Sold

$22K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-31

Sold

$186K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-31

Sold

$1.3M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-31

Sold

$295K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-28

Sold

$21K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-28

Sold

$87K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-28

Sold

$116K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-28

Sold

$523K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-28

Sold

$1.1M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-27

Sold

$62K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-27

Sold

$1.0M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-27

Sold

$715K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-26

Sold

$119K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-26

Sold

$664K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-26

Sold

$1.1M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-25

Sold

$54K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-25

Sold

$891K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-25

Sold

$924K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-24

Sold

$89K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-24

Sold

$1.6M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-24

Sold

$155K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-24

Sold

$18K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-21

Sold

$245K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-21

Sold

$187K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-21

Sold

$1.3M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-21

Sold

$96K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-20

Sold

$109K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-20

Sold

$923K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-20

Sold

$795K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-20

Sold

$63K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$383K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$693K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$483K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$288K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$15K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-19

Sold

$18K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-18

Sold

$84K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-18

Sold

$1.5M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-18

Sold

$193K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-18

Sold

$55K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-17

Sold

$7K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-17

Sold

$250K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-17

Sold

$274K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-17

Sold

$814K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-17

Sold

$471K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-14

Sold

$15K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-14

Sold

$1.8M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-14

Sold

$72K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-13

Sold

$1.1M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-13

Sold

$760K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$797K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$418K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$181K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$108K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$322K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-12

Sold

$5K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-11

Sold

$740K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-11

Sold

$1.0M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-11

Sold

$31K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-10

Sold

$1.0M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-10

Sold

$755K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-10

Sold

$49K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-07

Sold

$566K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-07

Sold

$1.3M

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-07

Sold

$10K

McCalman Jennifer

VP, Chief Accounting Officer · 2026-08-06

Sold

$128K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-06

Sold

$319K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-06

Sold

$374K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-06

Sold

$728K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-06

Sold

$342K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-06

Sold

$54K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-05

Sold

$999K

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Owns 10%+ · 2026-08-05

Sold

$4K

Voskuil Steven E

SVP, Chief Financial Officer · 2026-08-05

Sold

$171K

Other filings

Hoytink Heather Carol

President US · 2026-08-12

Award

12,024 shares

Taffet Stacy

Chief Growth and Mktg Officer · 2026-08-10

Tax withholding

$345K

About The Hershey Company

The Hershey Company, operating with its various subsidiaries, serves as a key manufacturer and distributor of both sweet confections and general household pantry items. Its market reach extends across the United States and globally. The enterprise strategically divides its operations into three main business segments: North America Confectionery, North America Salty Snacks, and an International division. Its…

Food Confectioners

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works