Bell Bank 13F: New $6.8M Stake in The Hershey (HSY)

Bell Bank opened a brand-new stake in The Hershey Company (NYSE: HSY), purchasing 42,924 shares worth about $6,765,252, as disclosed in a Form 13F filing filed with the SEC on October 21, 2026. The shares changed hands around a closing price of $167.81 on the filing date.

HSY The Hershey Company

$167.81 ▼ -5.95% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Bell Bank's The Hershey Company Position

Bell Bank established its position in the maker of chocolates and snack items during the period, adding 42,924 shares from scratch. Because this is a brand-new holding for the bank, there was no prior share count or percentage change to report. The total value of the newly initiated stake stood at $6,765,252 at the time of the filing.

Other Institutional Activity in The Hershey Company

Other large funds have also adjusted their holdings in the confectionery giant recently. Hershey Trust Company lowered its position by 610,837 shares, ending the period with 55,948,131 shares valued at about $9,388,655,726, which represents a 1.1% decrease from its prior count.

The Hershey Company Stock Up 0.6%

The stock recently traded around $169.58 as of October 22, 2026, which is up about 1.1% from its event-day close of $167.81. Shares sit below both the 50-day moving average of $173.11 and the 200-day moving average of $189.86. The company's 52-week range spans from a low of $156.16 to a high of $239.48, placing the recent price closer to the bottom end of that band.

Recent Earnings

The Hershey Company brought in trailing twelve months revenue of $12.16 billion with earnings of $7.32 per share. The business maintains a net profit margin of 12.2% and a return on equity of 32.8%, with year-over-year revenue growth coming in at 6.6%. The company's next earnings report is scheduled for October 29, 2026.

Dividend

The company distributes an annual dividend rate of $5.81 per share, giving the stock a dividend yield of 3.4%. Its dividend payout ratio sits at 77.1%, which reflects the portion of earnings paid out to shareholders.

Insider Buying and Selling at The Hershey Company

Insider activity included four transactions by the Hershey Trust Co Trustee in Trust for the Milton Hershey School, which holds a 10% owner status. On October 16, 2026, the trustee sold 10,000 shares at an average price of $170.65 for $1,706,540 under a planned rule. Additional sales of 10,000 shares each followed on October 19 at $167.48, October 20 at $168.85, and October 21 at $168.12, all executed pursuant to planned trading arrangements.

Analysts Set New Price Targets

Wall Street analysts have updated their outlooks on the stock across several recent sessions. On August 21, 2026, RBC Capital maintained its Sector Perform rating while lowering its target from $212.00 to $206.00. Wells Fargo maintained an Equal-Weight rating on October 5, 2026, adjusting its target from $190.00 down to $170.00. TD Cowen maintained a Buy rating on October 13, 2026, moving its target from $210.00 to $198.00. JP Morgan kept a Neutral rating on October 15, 2026, lowering its target to $183.00 from $193.00. Finally, Barclays maintained an Equal-Weight rating on October 16, 2026, lowering its target from $200.00 to $178.00. Overall, the stock carries a buy recommendation consensus from 21 analysts, with a mean price target of $198.00.

About The Hershey Company

Headquartered in Hershey, Pennsylvania, The Hershey Company manufactures and sells confectionery items and pantry products in domestic and international markets. It operates across North America Confectionery, North America Salty Snacks, and International segments, providing well-known consumer brands worldwide.

Bottom Line

Investors are watching for the upcoming earnings release on October 29, 2026, to gauge how confectionery demand and profit margins are holding up. Institutional filings will continue to show how banks and asset managers position themselves around the stock's valuation relative to its 52-week range.