HERSHEY, PA—The Hershey Company (NYSE:HSY), a $34.5 billion market cap consumer staples giant currently trading near its InvestingPro Fair Value, announced the results of its Annual Meeting of Stockholders held on Monday, with shareholders voting on several key proposals. The SEC filing on May 8, 2025, detailed the outcomes of the meeting, which was conducted via live webcast.
The election of directors was the first proposal on the ballot. Shareholders elected all nominated directors, with votes for each director ranging from 619,983,671 to 653,987,740. Votes withheld and broker non-votes were also reported, indicating a strong shareholder participation.
The second proposal concerned the ratification of Ernst & Young LLP as the company’s independent auditors for the fiscal year ending December 31, 2025. This proposal passed with overwhelming support, receiving 671,955,607 votes for, 1,028,265 against, and 200,796 abstentions.
In a non-binding advisory vote, the third proposal, shareholders approved the compensation of the company’s named executive officers. The vote count was 625,026,511 for, 29,266,381 against, and 499,761 abstentions, with 18,392,015 broker non-votes.
The fourth proposal addressed the approval of an amended and restated certificate of incorporation. Shareholders voted in favor, with 653,973,464 votes for the amendment, 472,295 against, and 346,894 abstentions.
The meeting also included the election of directors by holders of the company’s Common Stock, voting separately as a class. Deirdre A. Mahlan and Kevin M. Ozan were elected, with votes for each exceeding 106 million.
The filing, based on a press release statement, also included the company’s commitment to transparency and governance, highlighting the active role shareholders play in shaping the company’s future. The Hershey Company’s SEC filing provided a comprehensive overview of the voting results, ensuring shareholders’ voices were heard and recorded. InvestingPro analysis reveals the company has maintained dividend payments for 55 consecutive years and raised dividends for 15 straight years, though 14 analysts have recently revised their earnings expectations downward for the upcoming period. For deeper insights into Hershey’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Hershey Co . reported first-quarter 2025 earnings per share (EPS) of $2.09, surpassing analysts’ expectations of $1.97. However, the company’s revenue fell short of forecasts, coming in at $2.81 billion against the anticipated $2.84 billion. Despite the earnings beat, Hershey’s stock saw a decline, reflecting investor concerns over revenue shortfalls and future margin pressures. Stifel analysts maintained a Hold rating on Hershey shares with a $160 price target, noting the company’s better-than-expected first-quarter performance. The firm highlighted Hershey’s confirmation of its 2025 guidance, despite anticipating a mid-30s percentage decline in EPS for the year due to cocoa inflation. DA Davidson also raised its price target for Hershey to $163, maintaining a Neutral rating, citing Hershey’s management’s effective handling of controllable business aspects. Meanwhile, Bernstein increased its price target to $155 from $147, acknowledging Hershey’s mixed performance across its product lines amid a challenging economic environment. These developments underscore the ongoing challenges Hershey faces, including cocoa price volatility and tariff impacts, while the company remains focused on strategic initiatives for future growth.
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